Israel and United Arab Emirates agree to normalize ties

In what Trump called a “historic” agreement, the preliminary deal marks only the third time in history an Arab nation has agreed in principle to establish a normal relationship with Israel.
2:20 | 08/13/20

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Transcript for Israel and United Arab Emirates agree to normalize ties
Now, to that historic agreement in the Middle East. Israel and the uae saying they will normalize relations and Israel agreeing to suspend plans to annex parts of the west bank. Both sides crediting president trump for bringing them together. The uae becoming only the third nation. Reporter: Sitting at the resolute desk in the oval office, president trump himself announced the historic peace agreement. After 49 years, Israel and the United Arab Emirates will fully normalize their diplomatic relations. They will exchange embassies and ambassadors and begin cooperation across the board, Reporter: The preliminary deal marks only the third time in history an Arab nation has agreed in principle to establish normal relations with Israel, after Egypt and Jordan. And it's a potential breakthrough for a region long mired in a war, ruin, terror and diplomatic stalemate. This deal is a significant step towards building a more peaceful, secure and prosperous Middle East. Reporter: Israel on the mediterranean sea and the uae on the persian gulf, key American allies who have been secretly cooperating for years against a common foe, Iran. Under the deal announced today, the two countries Wil work to open embassies, build economic ties and cooperate on a coronavirus vaccine. And Israel will "Suspend declaring sovereignty" over land it occupies long claimed by Palestinians for a future state. Israeli prime minister Benjamin Netanyahu, thanking trump and predicting, this is just the start of a new middle East. I believe there is a good chance we will soon see more Arab countries joining this expanding circle of peace. Reporter: But among Palestinians, shock and a sense of betrayal. "They want to force us to have a peace process between us and the Israelis through the emirates. We reject this conspiracy completely," this man says. Today's deal is preliminary, there's still work to be done to make those pledges the reality, but the momentum is there. All leaders saying they expect other Arab countries to follow suit. All eyes on Saudi Arabia, the most powerful nation in that region. The common foe, Iran, and president trump's disruptive diplomacy mean it is a new day in the Middle East. Tom? Terry Moran for us tonight. Terry, thank you for that.

This transcript has been automatically generated and may not be 100% accurate.

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