The Abraham Accords are one of the “most significant strategic developments” in the Middle East for many years, said Dr Anwar Gargash, diplomatic adviser to President of the UAE Sheikh Khalifa.
At the Munich Security Conference, Dr Gargash said the Accords had helped break down “psychological barriers” that had compounded the Arab-Israeli issue and beyond over the years.
He said the UAE believed there needed to be an “agenda of tolerance” in the region. “The Abraham Accords fits very well into that,” Dr Gargash said.
The Accords, signed at the White House in 2020, normalised relations between the UAE and Israel. Bahrain, Morocco and Sudan soon followed suit.
The UAE “is pursuing what I call an agenda of stability and prosperity”, Dr Gargash said.
“And with that, I think using the economy, using investment as a visionary tool to change the region is extremely important,” he said, referring to the plethora of economic opportunities that have been created since the signing of the deal. Since 2020, and despite the Covid-19 pandemic, 123,000 Israelis had visited Dubai alone, Dr Gargash said.
The Accords, he said, were about “visionary thinking” for the Middle East.
“Not talking to Israel and not contacting Israel, and not having any relations with Israel, has truly been a failed, failed policy. I mean, there are no results to show here.
“I think that what Egypt has done many years ago, what Jordan has done a bit later, and the Abraham Accords today show a much more realistic course,” Dr Gargash said, referring to the normalisation of relations between Israel and Egypt in 1980, and Israel and Jordan in 1994.
He said the Accords could contribute towards a peaceful solution for Israel and Palestine.
“I don’t see that the Abraham Accords in itself is the sort of magic wand that will resolve everything. But we have been able, for example, through the Abraham Accords to stop the annexation of the Palestinian lands in the previous Israeli government,” Dr Gargash said.
Also speaking at the conference in Munich was Sheikh Abdullah bin Ahmed, Bahrain’s Undersecretary for International Affairs.
“The relationship between the Kingdom of Bahrain and the State of Israel stands as a testament on how peace can bring about stability and prosperity both on a bilateral level as well as on a regional level ... the aspirations remain high and what is yet to come is even more astonishing,” Sheikh Abdullah said.
Benny Gantz, Israel’s Deputy Prime Minister and Minister of Defence, was also in Munich, where he said it was a significant time for peace and stability in the Middle East.
“Partnerships are being built between leaders, peace is forged between countries and friendships are made between people,” he said.
“We are opening the gates of the Middle East to co-operation that will strengthen our economies, spread innovation and contribute to regional stability and security.
“Our hands are extended in peace to new brave leaders in the region who are prepared to develop relations with Israel."
But the retired Israeli Army general also issued a warning shot to Lebanese militant group Hezbollah, which is accused of flying a drone into Israel’s territory a few days ago.
“I have a clear message for Hezbollah," he said. "Their operatives are familiar with the noise made by our aeroplanes … if we are required to respond to the attack in order to defend ourselves, we will do so and we will cause great damage to the terror organisation.”
The specs
Engine: 3.8-litre, twin-turbo V8
Transmission: eight-speed automatic
Power: 582bhp
Torque: 730Nm
Price: Dh649,000
On sale: now
Profile
Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
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Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
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COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE