The Tel Aviv municipality building is lit with the United Arab Emirates national flag following the announcement of a deal to normalize relations between the Israel and the United Arab Emirates, Aug. 13, 2020. Photo: Reuters / Ammar Awad.

Following the normalization agreement reached between the two countries, a major company from the United Arab Emirates is set to establish an international office in Israel.

According to Gulf Today, the company is Group 42 (G42), the foremost artificial intelligence and cloud computing company in the UAE.

Its new subsidiary in Israel will foster cooperation between the countries’ tech industries in the areas of technology and human resources. It is also intended to facilitate the entrance of more UAE companies into the Israeli market and vice-versa.

Gulf Today reported that the office would employ both Emirati and Israeli experts, and would work on healthcare, coronavirus diagnosis, AI, agriculture and water technology, smart cities and renewable energy.

G42’s CEO Peng Xiao said, “The establishment of the new Israeli office will strengthen G42’s presence in the region and give us access to one of the most vibrant and mature tech ecosystems in the world.”

“It also reaffirms our ideals of openness and inclusiveness as we engage with international partners to harness best ideas and capabilities and solve problems in every sector for the benefit of society,” he added.