reply Israeli officials expect annual trade between Israel and the UAE to reach $4 billion

Annual trade between Israel and the United Arab Emirates is expected to reach $4 billion, a senior Israeli official said Thursday."Trade between Israel and the UNITED Arab Emirates will reach $4 billion in three to five years," Israeli Intelligence Minister Eli Kohen told an Israeli radio station On Thursday.Mr Kohen was minister of economy and industry. His spokesman explained that the figures are annual and cover the defence sector.Israel and the United Arab Emirates (UAE) have agreed to fully normalize relations after a U.S. -brokered deal was announced on August 13. The UAE then issued a decree repealing its economic boycott of Israel. Israeli and UAE officials expect the two countries to cooperate in areas such as defense, energy, health care, tourism, science and technology, and financial investment.Israel Airlines began its first non-stop commercial flight from Israel to the United Arab Emirates on August 31. Israeli airline Israels Air said Tuesday that it has booked take-off and landing times for commercial flights between Tel Aviv and the United Arab Emirates.Two of Israel's largest Banks, Bank Hablem and Bank Lommel, plan to send a delegation to the UNITED Arab Emirates in September to discuss further cooperation in the economic, trade and financial fields.The UAE delegation plans to make its first official visit to Israel on September 22 to promote the full normalization of relations between the two countries, a source told Reuters on Monday, speaking on condition of anonymity and nationality.