Jacob Olidort, Ph.D.
September 15, 2022
Here’s How The Two-Year-Old Abraham Accords Can Help Solve Today’s Biggest Challenges
Originally appeared in Daily Caller
Today, Sept. 15, 2022, marks the second anniversary of the signing of the historic Abraham Accords agreements on the White House lawn. With war in Europe threatening international energy and food security while simultaneously exacerbating global inflation and supply chain disruption, the Abraham Accords have the potential to transform the Middle East into a source of sustainable solutions to these urgent challenges, advancing peace and stability not only in the Middle East but around the world.
Much of the discourse surrounding the Accords has focused on the flourishing bilateral ties between Israel and its Arab peace partners, both new and old. The growth in bilateral ties has, without a doubt, been impressive, with United Arab Emirates (UAE)-Israel trade projected to reach $4 billion in 2022.
However, the truly transformative potential of the Accords is in strategic multilateral initiatives linking Abraham Accords members and other Middle East countries with the U.S., European, and Asian markets.
One area where the potential of an economically integrated Middle East can have a far-reaching impact is energy. According to the U.S. Geological Survey, Eastern Mediterranean gas reserves are estimated at about 345 trillion cubic feet, more than enough to supply regional needs and exports to Europe, helping to replace the loss of Russian gas following its invasion of Ukraine.