A general view of Abu Dhabi, May 29, 2019. Photo: Reuters / Christopher Pike / File.

A major business executive from the United Arab Emirates said the Gulf states should “welcome” investments from Israeli businesspeople.

Bloomberg reported that, speaking at a conference in the UAE capital Abu Dhabi, Ibrahim Ajami — head of the Mubadala Investment Co.’s venture capital arm — said, “We need to welcome all sorts of investors, even investors that are very active in Israel, Israeli investors that ultimately come to see opportunities in the region.”

“I don’t see a reason why we should not do that,” he added.

In response, Israeli venture capitalist Avi Eyal of Entree Capital told Ajami, “I’ll help you start an early-stage fund here in Abu Dhabi.”

“I’ll make sure that I bring my friends from Europe, from Israel, everywhere else to help maintain it, to help make it a success,” he added.

Afterward, the two men shook hands.

Israel is set to attend October’s World Expo, to be held in Dubai.

Although the Gulf states do not officially recognize Israel, low-profile business and diplomatic ties expanded in recent years, partly due to the mutual threat posed by Iran.