The Emirates company, APEX National Investment, announced the signing of a strategic commercial agreement with Israel-based TeraGroup on Saturday, dedicated to the development of research on the coronavirus (COVID-19) pandemic, according to the official Emirates News Agency (WAM).

The agreement was signed during a press conference held by Khalifa Yousef Khouri, chairman of APEX National Investment, and Oren Sadiv, chairman & CEO of TeraGroup.

“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, for the benefit of serving humanity by strengthening research and studies on the Novel Coronavirus (COVID-19)”, said Khouri.

TeraGroup’s Oren Sadiv said that his corporation was “thrilled” with the agreement, hoping that it would achieve the objectives outlined “which in turn will benefit everyone economically, specifically in these exceptional circumstances with the spread of the Novel Coronavirus around the world”.

The agreement follows the newly established diplomatic ties between the two countries.