The United Arab Emirates (UAE) today issued a decree abolishing a 1972 law regarding the boycott of Israel, following a deal to normalise relations between the two countries.

The decree announced by UAE President Khalifa bin Zayed Al Nahyan would allow Emirates to enter into commercial and financial agreements with Israelis, according to the official WAM news agency.

Under the new decree, all Israeli products and goods can be traded in the UAE markets.

WAM said the presidential decree comes as part of the Gulf state’s efforts to expand diplomatic and commercial cooperation with Israel.

Palestinian groups, including the Palestinian Authority, have denounced the UAE-Israel deal, saying it does not serve the Palestinian cause and ignores the rights of Palestinians.