Representatives from the Emirati company APEX National Investment (R) and the Israeli TeraGroup sign an agreement to develop research on the novel coronavirus |
Firms from the United Arab Emirates and Israel have signed an agreement to jointly develop research and studies on the novel coronavirus, the UAE's state WAM agency reported.
The business deal comes days after a surprise
political agreement between the UAE and Israel to normalise relations, a
historic shift which will make the Gulf state only the third Arab country to
establish full diplomatic ties with the Jewish state.
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 particular focus
on the healthcare sector.
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 agreed the
US-brokered deal to establish full diplomatic ties.
Under that agreement, Israel pledged to suspend its
planned annexation of parts of the occupied West Bank, a concession welcomed by
European and some pro-Western Arab governments as a boost for hopes of peace.
However, before the political deal, two Israeli
defence companies last month signed an agreement with an Emirati company to
collaborate on the development of a non-invasive coronavirus screening test.
State-owned Israel Aerospace Industries (IAI), the
country's largest aerospace and defence firm, as well as the government's
Rafael Advanced Defense Systems, signed a memorandum of understanding with Abu
Dhabi-based technology company Group 42 in July.
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