The International Federation of the Indo-Israel Chambers of Commerce (IFIICC) is planning to boost India’s strong historical ties with the UAE and Israel as it expects knowledge sharing, strategic partnerships and cultural bonds will help establish business relationships among the three countries.

The IFIICC was launched in Dubai last month on the back of the Abraham Accords, the recent peace agreement between the UAE and Israel, Gulf News reported. It aims to promote innovation, commerce, investment and goodwill between the diasporas of India and Israel around the world. The UAE, which is home to an estimated three million Indian expatriates, is a great place to begin with, says Merzi Sodawaterwala, Chairman of IFIICC. “Given the fact that India and the emirates have had centuries of trade, while India and Israel have had a 28-year history, this gives India a very strong basis to leverage a trilateral relationship,” he says.

“The UAE’s business-friendly regulatory framework, the enterprising Indian diaspora and Israel’s innovative start-up culture can jump-start a model of business creation that can benefit the world.” Areas of collaboration among the three countries include scientific research, IT, agritech and food security, healthcare, medtech and sustainability.