Coronavirus: UAE, Israeli companies sign 'strategic commercial agreement' to fight Covid-19

Abu Dhabi - The agreement between the two companies aims at conducting and enhancing research and studies related to coronavirus.

The UAE announced on Saturday that a "strategic commercial agreement" to cooperate on research and development related to the coronavirus pandemic, including a testing device has been signed between the Emirati APEX National Investment company and Israel's Tera Group.
The agreement between the two companies aims at conducting and enhancing research and studies related to coronavirus (Covid-19), as well as developing a coronavirus testing device to contribute to speeding up the testing process, facilitating it, and providing it with high accuracy and high throughput to everyone in accordance with the best international practices.
"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 Khalifa Yousef Khouri, Chairman of APEX National Investment.
"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, specifically in these exceptional circumstances with the spread of the Novel Coronavirus (Covid-19) around the world," TeraGroup's Oren Sadiv commented.
"I would like to thank Khalifa Yousef Khouri and Oren Sadiv and we are pleased with the signing of this commercial agreement between APEX National Investment, which specializes in investments and scientific fields in Abu Dhabi, and TeraGroup, a global leader in Terahertz field. At First Capital Group, we are very keen on bringing companies specialized in sciences and inventions together to establish commercial and investment partnerships with Emirati companies, such as APEX National Investment," said Ido Berniker, a representative from First Capital Group.
The agreement was signed at a press conference in Abu Dhabi, coming soon after Israel and the UAE announced an agreement on Thursday that will lead to a full normalisation of diplomatic relations between the two states.