The United Arab Emirates (UAE) on Saturday issued a decree abolishing a 1972 law regarding the boycott of Israel, following a deal to normalize 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.

The UAE and Israel on Aug. 13 announced a US-sponsored deal to establish full diplomatic relations.

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.

*Ahmed Asmar contributed to this report from Ankara

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