JERUSALEM, June 1 (Xinhua) -- Israel and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) to boost industrial cooperation, the Israeli Ministry of Economy and Industry said Wednesday.

The MoU was signed Tuesday in Dubai by visiting Israeli Minister of Economy Orna Barbivay and her UAE counterpart Abdulla Bin Touq Al-Marri.

The two countries also signed a historic free trade pact, the first of its kind between Israel and an Arab country.

The industrial agreement promotes collaboration, knowledge-sharing, and business opportunities, with a focus on advanced production and innovation, waste treatment, agri-technology, and circular economy, among others, said the Israeli ministry.

"The agreement will promote competitiveness and productivity in the Israeli industry, expose it to business opportunities and deepen the relationship with the UAE industry," it added.

The two countries, which normalized diplomatic ties in September 2020, launched free trade negotiations in November 2021.