The president of the UAE, Khalifa bin Zayed Al Nahyan, issued a decree abolishing a law regarding boycotting Israeli occupation, according to the Emirates News Agency (WAM).

The decree of the new law comes as part of the UAE's efforts to expand diplomatic and commercial cooperation with the Israeli occupation, allow trade and financial agreements between both countries and to promote bilateral relations by stimulating economic growth and technological innovation.

Following the abolition, individuals and companies in UAE may conclude agreements with bodies or individuals residing in the Israeli occupation or belonging to it by their nationality, on deals such as commercial or financial operations.

In addition, it will be permissible to enter, exchange or possess Israeli goods and products of all kinds in the UAE and trade in them.

This came following the announcement of the peace deal which stated normalising ties between the two countries.