A year after the photo-ops in Washington DC and the breathless reports from the footsteps of the Burj Khalifa, the United Arab Emirates believes that economic activity with Israel could reach more than $1 trillion over the next decade.

That stratospheric figure was touted this week by Emirati Minister of Economy Abdulla bin Touq Al-Marri during a virtual event marking the first anniversary of the Abraham Accords, the historic US-brokered agreement that normalized ties between Israel and the UAE, quickly followed by Bahrain, Sudan and Morocco.

While Israelis have long maintained quiet commercial and security ties with the UAE, the normalization agreement was seen as a potential economic boon, with increased access to the global business and shipping hub of Dubai, on top of tourism and energy.