Israeli Prime Minister Benjamin Netanyahu considered on Saturday the UAE’s decision to cancel the boycott of Israeli goods “an important step to boost prosperity in the region.”

“I welcome the decision of the President of the United Arab Emirates, His Highness Sheikh Khalifa bin Zayed, to cancel the law on boycotting Israeli goods and economic relations with Israeli citizens. This is an important step that will advance prosperity and peace in the region," Netanyahu tweeted.

The President of the UAE issued a decree on Saturday to cancel the 1972 Boycott Law, following the announcement of the normalization agreement with Israel.

It is worth noting that Israel and the UAE announced on August 13, 2020, they will normalize relations and forge a new relationship.