Comprehensive News & Analysis

28-10-2020 | 16:43 PM

Sudan-Israel Deal

Context:       Sudan recently recognized the Israel by signing diplomatic deal with it. It has become the latest country to recognize Israel after UAE and Bahrain.

Key Highlights

• Egypt was the first Islamic country to recognise Israel.
• After Egypt, Jordan recognised Israel by establishing peace deal with Israel.
• UAE signed a peace deal with Israel recently after 26 years, becoming the third country to do so.
• Bahrain became the fourth country to sign a peace deal with Israel.

Background

• The USA recently made Israel, UAE and Bahrain to sign an agreement recognizing Israel as an independent state.
• To comply with the agreement UAE, Bahrain and Israel signed the first peace agreement called as the ‘Abraham Accord’.

Economy of Israel

• Israel is considered as the most advanced economy in Western Asia.
• The country has been recently ranked on 16^th position in the Global competitiveness report by World Economic Forum.
• In the Ease of Doing Business Index, it has been ranked on 54^th position.
• Israel has second largest number of startup companies in the world.
• The external debts of the country stands at the lowest position among the other developed countries.
• It has one of the world’s best agricultural facilities, and it exports such products on large scale.