Dubai-based KIKLABB and NY Koen Group have announced a partnership that aims to facilitate cultural understanding, foreign investment and business development between the business communities of the UAE and Israel.
The move follows the normalising of diplomatic relations between the UAE and Israel.
With estimates suggesting trade between the two countries could reach $4 billion per year, the partnership will launch a series of initiatives including a centre for the Jewish community in Dubai to provide support and resources for business, tourism and travel, along with strategic advisory to Israeli investors wishing to launch in the UAE via KIKLABB.
NY Koen Group, a Dubai-based holding company, will support free zone and business service provider KIKLABB in expanding its presence in Israel and introduce Israeli entrepreneurs and businesses to the benefits of working with the Dubai government-owned licensing and workspaces entity.
Tasawar Ulhaq, CEO of KIKLABB said: “The exchange of ideas and knowledge is something that KIKLABB always strives for. This partnership can provide Israeli companies with not only a UAE trade license, but the tools they need to promote their products, services and increase Foreign Direct Investment and expertise within the region.”
With estimates suggesting that trade with the UAE could reach four billion dollars a year, the opportunities are infinite.
“Our partnership with KIKLABB comes at an important time as the region's two most innovative economies start working more closely together” said Naum Koen, CEO of NY Koen Group. “There is immense potential for economic co-operation and investment.
“With KIKLABB, we can expect to see thousands of Israeli companies expand into the UAE market. We are keen to help those wishing to trade in the UAE and give them the support they need to thrive and expand their businesses.”
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
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