Abraham Accords offer ‘tremendous economic opportunity’ as leaders mark one-year anniversary
Robert Greenway, president and executive director of the Abraham Accords Peace Institute, released a Fox News op-ed on Tuesday to mark the first anniversary of the Abraham Accords, noting the “tremendous economic opportunities” involved.
“Israel’s Central Bureau of Statistics has reported over $570 million in business with the UAE alone in the last year,” Greenway noted, adding that “projections by Israel’s Finance Ministry reflect it’s likely to reach $1 billion by the end of the year, and $6.5 billion by 2025.”
Greenway is absolutely correct. The peace accord provides a new path for economic benefit to all nations involved. Israel serves as a superpower in the Middle East. The nation already stands as one of the world’s top 10 economic powers. Its leaders know the value of a good deal when they see it.
At the one-year mark, much has changed. The Trump administration has changed hands to the Biden administration in the US. In Israel, Netanyahu’s leadership has shifted to Prime Minister Bennett. New leaders now stand poised to either move forward on the foundations of the Abraham Accords, or to fall back into the status quo of past years.
Greenway noted the potential for $1 trillion in economic potential over the next decade among the nations already signed to the agreement. If additional nations could join the Accords, perhaps the benefits would increase even more.
Yet potential and realized benefits are two different things. It’s not enough to have the ability to move forward with normalized relations. Israel and its neighbors now must deal with the details to make sure the agreement signed last year in Washington does not go the way of past peace agreements.
In addition to economic benefits, Israel, the UAE, Bahrain, Morocco, and Sudan must continue to unite in opposition to Iran’s radicalism. The ongoing development of nuclear capabilities could threaten to quickly end the positive progress made elsewhere.
Some reports now suggest Iran could have the ability to manufacture the uranium needed to develop a nuclear weapon within a month. If so, the time to advance an agenda to stop Iran is now.
Past demands for Iran to stop its development continue to be dismissed by Iran’s leaders. It’s clear a stronger approach is needed. The Abraham Accords won’t solve this dilemma, but stronger relations with other partners who oppose Iran will certainly help.