Dubai’s Abrahamic Business Circle: Promoting economic diplomacy as a vehicle for peace

Spanning over 300 members from 57 countries including its global members, advisories, and brand ambassadors, the Abrahamic Business Circle was established following the signing of the “Abraham Accords” in September 2020. This private sector-oriented club, whose members are entrepreneurs and businesspeople in the fields of venture capital, investment fund, biotech, fintech, technology, real estate, and more, aspires to emulate the accords and implement them in the business sector as well, as a method of bridge building between people and eventually countries.

TABC holds quarterly meetings and regular events aiming to boost networking, drive economic growth, foster entrepreneurship, and promote global change. Last week, the group held its quarterly meeting in Dubai, with the presence of Jewish, Muslim, and Christian businessmen and women from around the world, including from Israel and Arab states. During the meeting, Israeli ambassador Amir Hayek gave a speech and was awarded a prize in honor of his actions for promoting peace, "Excellence in Strengthening Economic Diplomacy, 2024". Senior diplomats and representatives from several Gulf countries and from across the Middle East were also present.

 CEO Cabrera: ‘economic diplomacy is building bridges for the benefit our future generations’

Speaking with The Jerusalem Post, Veronica Cabrera, CEO of the Abrahamic Business Circle, described the initiative humbly as “a platform where colleagues meet four times a year to network, do business, present projects and look for investors,though the story behind this exceptional initiative is quite unique.

It was founded by Cabrera’s partner, Raphael Nagel, whom Cabrera described as “always in search of connecting people.” They lived in Dubai and when the agreements were signed, when Raphael began to receive many calls from fellow Jewish businessmen and women who wanted to do business in the Gulf. “Raphael always enjoyed good relations with governments, and he has always believed that the private sector can influence positively and promote peace in the world.

“In the beginning it was a just platform,” added Cabrera, “but four years later it became a family. Our main idea is to connect people; we have no financial goal since we all have our own businesses to tend to. We do it with much love and passion. All of us in TABC are entrepreneurs and businesspeople, and in a world where business ethics have become infrequent and trust has become rare, this is a haven for people who know and trust each other in business, which is all the more important when attempting to build bridges between different people.”

Cabrera refers to TABC’s work as part and parcel of economic diplomacy, or as she puts it, promoting business and building bridges. “We continue to do this type of diplomacy regardless of religious affiliation, nationality or politics, and we are not at all political,” stressed Cabrera. “Instead of echoing disputes and conflicts, we bring together people from all continents. Our meetings are enriching thanks to the different and diverse backgrounds; we promote unity and connections to combat violence and wars. Certainly, there is an open wound in this area which bleeds in all directions but, we believe that there is a God who will take care of that, while we pray that the leaders and decision makers will make the best decisions for both nations.

“We aspire to influence in some way leaders and decision makers across the globe. We strive to be an example that, if people from different areas of the world can do business together, they can surely collaborate in other fields as well. We try to do our fair share, work together as much as possible to continue supporting the prosperity of all of our nations. It all comes down to the question of what kind of world we want to leave for our children.

“Business, just like any other field of collaboration, can positively influence and promote peace,” elaborates Cabrera. “There is no magic formula here – everyone can do it. The UAE offers a safe place for more than 200 nationalities who live together in harmony, and so is a great example for us. Also in our context, we appreciate what the country does for the business sector, with so many opportunities, all the while protecting small entrepreneurs and promoting start-ups. That's why we love being here.

When asked if the authorities officially endorse the Abrahamic Business Circle, Cabrera answers: “We are currently not looking for official or institutional ratification. Of course, the authorities are very helpful, and we have invited officials in the past; but right now, we are focusing on our own niche of promoting peace through business while remaining neutral politically.

Cabrera is optimistic when it comes to TABC’s work. “This may sound like a cliché or a romantic song, but for me it’s clear that if everyone puts in their little grain of rice, in the end we will create change together. We bring together over 300 people from all continents, all with their diverse backgrounds and special ideas. Many members are from Israel and Arab countries. We strive to return to business ethics, economic diplomacy, and building bridges. This is my message - that it is possible; it is possible to build more bridges and combat hatred and wars.”

Israeli entrepreneur Shir Sagie: ‘normalization is inevitable’

Shir Sagie, an Israeli-Romanian businesswoman and a self-described peace entrepreneur who specializes in political communication, international conflict resolution, and mediation, was also present in last week’s event. Sagie founded a tech-oriented start-up named ‘Gelicail - The Positive Web.’ This initiative, founded with system engineers from Germany and IT specialists from India, is a Web 4.0 platform which Sagie describes as “decentralizing” the Holy Land for 2 billion Gen-Z individuals from the Abrahamic religions worldwide. “Just like blockchain decentralized the global financial system, so too the Holy Land is in need for decentralization and stripping of rustic politics and national conflicts,” she explained.

Sagie views her initiative as an out of the box solution for international conflicts. “After many years I’ve realized that we needed a break from all the conservative approaches, and the Web 4.0 technology is exactly what that is,” explained Sagie. “Young generations have had enough of traditional media, politics, and religious and financial institutions. They are looking for something else, and we are bringing it to them with Gelicail.”

Gelicail is also what brought Sagie to the Abrahamic Business Circle’s meeting in Dubai last week, with the unique idea garnering much interest among investors from the area and worldwide. “It was especially admirable to see the number of businesswomen there; I think Israel has a lot to learn in that field from the UAE,” she added.

“Dubai is the perfect place for this kind of activity of business diplomacy and out-of-the-box entrepreneurship for reality change, especially these days. Led by Sheikh Mohammed bin Rashid Al Maktoum, Dubai shows the whole world how you can successfully combine tradition and faith together with pluralism, innovative thinking, and a full business atmosphere that promotes tolerance and prosperity.”

Sagie emphasized that, despite the war, there was no change in the way she was treated in Dubai: “On the contrary, the vibe among the business community is that we must take the lead and act for a change,” she added, echoing Cabrera’s words above. “The consummation of normalization is inevitable. It will happen sooner or later. There are many forces pushing very hard in this direction, and many resources were channeled and invested in this process.”

Sagie attests that this area of the world is “fully dedicated to this process. It’s true that there are counterforces fighting hard to deepen the chaos, but in the end, nature strives for balance. We must work together with our partners to bring balance back to this part of the world. I am a great believer in the power of technology to lead these kinds of changes. And of course, we need more women to lead. In my opinion, Israel needs, more than ever, brave leadership that will know how to navigate together with the existing partners out of the chaos we are all in these days. We have partners in the Gulf countries, more than we can imagine,” she concluded.