Israel is set to sign a free trade agreement with the United Arab Emirates, concluding months of negotiations in a deal set to be worth hundreds of millions of dollars.

Israeli trade minister Orna Barbivai, who's travelling to Dubai to sign the agreement with Emirati ministers, said: "This is a visit of strategic importance to the economic relations between the State of Israel and the United Arab Emirates, in which I will sign the free trade agreement and promote a number of economic partnerships.

"Together we will remove barriers and promote comprehensive trade and new technologies."

The accord with the UAE is estimated to cover as much as 96 per cent of the trade between the two countries which last year was worth over £700m.

UAE and Israel have only enjoyed full diplomatic relations for less than two years, since the signing of the Abraham Accords in August 2020 which normalised relations between Israel, the UAE and Bahrain.

Since the signing of the accords, Jewish life has thrived in the Emirates, with Jewish centres sprouting up across major cities.

Negotiations for the free trade agreement began in November 2021, with a delegation from Israel visiting the UAE to start proceedings.

Israel currently has 19 free trade agreements in place with countries in Europe and both North and South America. The UK government is currently preparing for its own negotiations with Israel in relation to a possible free trade agreement.