JERUSALEM—Israel and the United Arab Emirates have concluded negotiations for a free trade agreement, Israel’s Economy Ministry and the UAE foreign trade minister said on Friday after formally establishing ties in 2020. The UAE and Israel have between $600 million and $700 million in bilateral trade, UAE’s economy minister Abdulla Bin Touq Al Marri said in September. The UAE and Israel formally established relations in 2020 as part of the U.S.-brokered Abraham Accords that also included Bahrain and Morocco. The latest agreement included 95 percent of traded products, which would be customs free, immediately or gradually, including food, agriculture, and cosmetic products, as well as medical equipment and medicine, the Israeli Economy Ministry said in a statement. The agreement included regulation, customs, services, government procurement, and electronic trade and would come into effect when signed by the countries’ economy ministers and ratified, the statement said, though no timetable was given. …