Abu Dhabi: UAE state agency WAM reported that companies in the United Arab Emirates and Israel have signed an agreement to jointly develop the new coronavirus.
Just days after reaching an astonishing political agreement to normalize relations between the UAE and Israel, this commercial transaction has undergone a historic transformation, making the Gulf State the third to establish full diplomatic relations with the Jewish state. Arabic countries.
The UAE’s APEX National Investment and Israel’s TeraGroup signed the “strategic commercial agreement” late Saturday in Abu Dhabi, WAM said in a statement.
“We are delighted with this cooperation with TeraGroup, which is considered the first business to inaugurate trade, economy and effective partnerships between the Emirati and Israeli business sectors,” APEX chairman Khalifa Yousef Khouri said.
APEX is an investment company with a special focus on healthcare.
The deal would be “serving humanity by strengthening research and studies on the novel coronavirus,” Khouri added.
The two companies hope to develop a rapid test for coronavirus.
“We are thrilled with our agreement with APEX National Investment, and hope that we will achieve the objectives outlined in this agreement, which in turn will benefit everyone economically,” TeraGroup chairman Oren Sadiv said, according to WAM.
Last Thursday, the UAE and Israel reached an agreement to establish a comprehensive diplomatic relationship between the United States and the United States.
Under the agreement, Israel pledged to suspend its annexation plan for parts of the occupied West Bank. This concession was welcomed by European and some pro-Western Arab governments to encourage people’s hopes for peace.
However, before reaching a political agreement, the two Israeli defense companies signed an agreement with UAE companies last month to collaborate on the development of non-invasive coronavirus screening tests.
State-owned Israel Aerospace Industries Corporation (IAI), the country’s largest aerospace and defense company, and the government’s Rafael Advanced Defense Systems, signed a memorandum of understanding with Abu Dhabi-based technology company Group 42 in July.