Abraham Accord will bring peace, but boosts arms sales
WEB DESK: The UAE and Israel are set to sign a formal peace deal in Washington DC today at 8pm ( UAE time). Sheikh Abdullah bin Zayed bin Sultan Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, has already arrived in the US to sign historic Abraham Accord.
The UAE will be the first country in the Gulf Cooperation Council (GCC) and third in Arab world to establish diplomatic relations with Israel after Egypt and Jordan.
Bahrain, another GCC nation, will also join the UAE in peace deal brokered by the US last month.
The peace deal will end the UAE‘s economic boycott of Israel. It will also pave the way to get advanced US weaponry such as F-35 fighter jets and state-of-art drones to ensure its defence and stability in the region.
Analysts and defence experts say historic peace deal is an unprecedented step with unknown ramifications, but it will definitely fetch more weapon sales order for the US.
According to figures from the Forum on the Arms Trade (FAT) from the US Foreign Military Sales programme, the US sold 42% more arms globally last year, an increase of almost $70 billion.
The Middle East and North Africa (MENA) region, emerged as strong growth market for the US as it purchased weapons worth more than $25 billion last year compared to $11.8 billion in 2018, reflecting an increase of 118%.
Morocco leads the pack in purchasing US arms, with almost $12 billion sold to Rabat. The GCC block comprising of Saudi Arabia, UAE, Kuwait, Bahrain, Oman and Qatar, accounted for much of the rest of $25 billion arms sales order.
The UAE spent more than $4.7 billion on US arms in 2019, accorsing to FAT data. Bahrain spebt $3.37 billion, Qatar spent about $3 billion and Saudi Arabia spent at roughly $2.7 billion in 2019 and these numbers are likely to further surge despite the signing of peace deal. More GCC nations such as Oman and Arab countries could follow the foot steps of the UAE and Bahrain in coming weeks.