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Enterprises in the UAE and Israel signed the first agreement after the breakthrough of diplomatic relations

 

APEX National Investment based in the United Arab Emirates (UAE) agreed to conduct research on corona virus with Israel's TeraGroup in the first cross-border agreement after the two countries started normalization of relations.

TeraGroup was the first business to initiate a commercial, economic and efficient partnership between the Emirate and Israel's business areas," said APEX National Investment President Khalifa Yousef Khouri in a press release announced on Emirates State News Agency on Sunday, August 16. This agreement is described as a "strategic trade agreement”.

Last week, the UAE announced that it was moving toward normalizing relations with Israel, joining Egypt and Jordan as rare Arab nations do so. This was hailed by US President Donald Trump as "a truly historic moment".

Even before the diplomatic breakthrough, a UAE official said companies in Israel and the Gulf country had planned to cooperate in an effort to combat the Covid-19 pandemic.

 

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