The UAE Monday signed a tax agreement with the Israeli occupation, in the latest step towards consolidating normalization.
"This is a historic agreement that will stimulate the development of economic ties between the two countries," Finance Minister Israel Katz wrote in a tweet.
He added that the agreement "will provide certainty and favorable terms for large-scale commercial activity."
He explained that the agreement provides for "the imposition of lower taxes to encourage investments."
The UAE has already signed several agreements with the occupation, including direct flights, mutual exemption of visas, protection of investments, and science and technology.