On Friday, the European Union welcomed the agreement between the UAE and Israel, saying that it would contribute to regional stability.
"The agreement will benefit both countries and regional stability," a European Commission spokeswoman said in a press briefing.
"We are committed to the two-state solution and are ready to work on resuming negotiations," she added.
On Thursday evening, Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, said that an agreement had been reached, in a phone call, with US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu to stop Israel's annexation of the Palestinian territories.
Sheikh Mohammed bin Zayed, Trump and Netanyahu agreed to initiate full bilateral relations between Israel and the UAE.
A joint statement between the United States, Israel and the UAE stated that this historic diplomatic achievement would enhance peace in the Middle East region.
He added that this step is a testament to the bold diplomacy and vision of the three leaders, and the courage of the United Arab Emirates and Israel to chart a new path that opens the way to great potential in the region.
The statement indicated that the three countries face many common challenges at the present time, and "will mutually benefit from the historic achievement achieved today."
He reported that delegations from the UAE and Israel will meet, in the coming weeks, to sign bilateral agreements related to the sectors of investment, tourism, direct flights, security, communications, technology, energy, health care, culture, environment, and the establishment of mutual embassies and other areas of mutual interest.
The statement emphasized the initiation of direct relations between two of the largest economic powers in the Middle East, which would lead to the advancement of the region by stimulating economic growth, promoting technological innovation, and strengthening relations between peoples.
The statement said that as a result of this diplomatic breakthrough and at the request of President Trump and with the support of the United Arab Emirates, Israel will stop the plan to annex Palestinian lands in accordance with Trump's peace plan, and now focus its efforts on strengthening relations with other countries in the Arab and Islamic world.