Tel Aviv Stock Exchange looks for investor base in UAE - Reuters

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Market data is seen on part of an electronic board displayed at the Tel Aviv Stock Exchange, in Tel Aviv, Israel November 4, 2020. REUTERS/Amir Cohen

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JERUSALEM, Feb 23 (Reuters) - Israel's stock exchange said on Wednesday it was searching for new investors in the United Arab Emirates (UAE) to partner with leading companies traded in Tel Aviv.

The Tel Aviv Stock Exchange (TASE) is working with the UAE Embassy in Tel Aviv and the Dubai International Chamber to match Israeli companies with Emirati strategic investors at a conference in Dubai Feb. 28 to March 3.

"The objective ... is to expose UAE investors to leading Israeli companies," said Ittai Ben-Zeev, chief executive of the TASE.

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Israel and the UAE normalised relations in 2020 and are looking to boost economic cooperation. Bilateral trade has already topped $1 billion.

More than 20 companies will participate in the delegation to Dubai, including Bezeq Israel Telecom (BEZQ.TA), food producer Strauss (STRS.TA), Enlight Renewable Energy (ENLT.TA) and insurance firm Phoenix .

"As firm believers that peace leads to prosperity, we will help Israel companies open new markets and reach global scale," said Mohamed Al Khaja, the UAE's Ambassador to Israel.

"We must link our financial institutions, ease financial transactions, the flow of capital and investments to realize the true potential of the two markets working together in unison."

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Reporting by Steven Scheer Editing by Ari Rabinovitch

Our Standards: The Thomson Reuters Trust Principles.

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