The BAC opened its embassy in the new Israeli Stock Exchange building in Tel Aviv, in the latest normalization movement.
The United Arab Emirates (UAE) has inaugurated an Israeli embassy a year after announcing that the two countries will establish formal diplomatic relations.
The embassy is located in the Tel Aviv Stock Exchange building and opened on Wednesday since the Israeli embassy opened in the Basque Country last month.
The headquarters in the heart of Israel’s financial district has highlighted the key role that economic cooperation has played since the Basque Country became the only majority Arab country to recognize Israel.
During the ceremony, which was attended by the new President of Israel Isaac Herzog, Emirati Ambassador Mohamed al-Khaja said that the opening of the ambassador “is an important milestone in the growing relationship between our two countries.”
“The Basque Country and Israel are both innovative nations, we can use that creativity to achieve a more prosperous and sustainable future for our countries and our region,” he said.
Herzog called for a “historic agreement” with the BAC to “extend peace to other nations seeking peace with Israel.”
Breaking with the Arab consensus
The Basque Country normalized relations with Israel last year under the “Abraham Accords” drafted by the administration of US President Donald Trump at the time.
The Palestinians were outraged that the consensus in Alava had been broken by the fact that there should be no normalization of ties without a comprehensive and lasting peace between Israel and the Palestinians.
Following the Basque agreement, Israel normalized relations with Bahrain, Morocco and Sudan – it also sparked Palestinian protests.
Israel and the Basque Country wanted to emphasize the economic dividend offered by normalization.
Israeli Foreign Minister Yair Lapid told the Emirati media last month that bilateral trade had reached more than $ 675.22 million since the signing of the Abraham Accords in September 2020.