ABU DHABI — The Israeli and US delegation concluded its visit to the United Arab Emirates on Tuesday. The visit came following an agreement last month between the two countries to normalize ties.

"The historic visit by the US-Israeli delegation to the UAE has concluded, ushering in a new era of cooperation. Our sincere gratitude to the Trump administration for all efforts to promote ties of friendship and foster economic and cultural prosperity for our peoples," tweeted Hend Al-Otaiba, the director of strategic communications at the Ministry of Foreign Affairs.

The visit was the first of an Israeli delegation to the UAE, which had no diplomatic relations with Israel until a landmark deal last month.

The two countries have now agreed to set up a joint committee on financial services cooperation with the aim of promoting investment between the two countries, according to an Israeli statement on Tuesday.

The move comes after the UAE issued a decree abolishing a previous law that mandated an economic boycott of Israel.

The removal of the boycott law means that UAE businesses and individuals are now allowed to sign commercial and financial agreements with their Israeli counterparts. Israelis and Israeli businesses are also now allowed to do business in the UAE. — Agencies