Frags of Israel and the UAE (C) in Netanya, Israel (Photo taken on August 16, 2020 - AFP/VNA)

The decision to remove the Israel Boycott Law will allow people and companies in the UAE to enter into agreements with bodies or people living in Israel or belonging to it by nationality as part of commercial or financial operations.

The UAE is the third country in the Arab world to normalize relations with Israel, after Egypt and Jordan.

The Palestinian authority and some Arab countries have rejected the US-brokered agreement to normalize ties between the UAE and Israel. The deal was announced on August 13.