According to an article in the Washington Post, the United States and Israel are in negotiations over a potential membership in the new zone.
According to the article, the US has already offered Israel the option to join, and Israel has already been offered the option of joining.
Israel has said that it would only accept an invitation from the United Nations if it was the first nation to apply.
Israel and the US are already members of the Suez Basin Treaty Organization, a bloc of six countries that are members of both the Organization for Economic Cooperation and Development (OECD) and the World Trade Organization (WTO).
The Israeli government has said it wants to join the bloc as soon as possible, and Prime Minister Benjamin Netanyahu has already stated that the country is ready to sign a memorandum of understanding with the bloc.
The EU is also seeking to join.
Israel is also planning to build an artificial island in the Gulf of Suez, a move that will make the waters around it even more dangerous.
A report from The Associated Press reported on Friday that the Israeli military is working on plans to build a new artificial island on the southern coast of the Gulf that could be used to send oil from Israel to its gas-rich neighbors, the UAE and Saudi Arabia.
The report said that the plan has not been finalized, but that the UAE could be the site of an oil and gas terminal.