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International relations

UAE-Israel deal's reverberations extend to Asia ahead of signing

Investors abuzz over tech, trade and travel as China watches closely

Israeli flag carrier El Al's plane is seen after landing at Abu Dhabi on Aug. 31. Saudi Arabia's decision to grant overflight permission could make it easier for Israelis to do business in Asia.   © Reuters

DUBAI/TOKYO -- On Sept. 13, 1993, Israeli and Palestinian leaders shook hands on the White House lawn to seal the Oslo Accords. The late Israeli statesman Shimon Peres, one of the architects of the arrangement, trumpeted the coming of a "new Middle East" that would bring peace and prosperity.

Twenty-seven years and several bloody conflicts later, most consider the Oslo process a failure. But now the stage is set for another signing ceremony in Washington on Tuesday -- this time between Israel and the United Arab Emirates -- that is generating similar optimism as a transformative moment for the region.

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