The United Arab Emirates-based maritime company Dubai Ports World recently inked a deal with Israel Shipyards Ltd., Globes reported on Tuesday.

According to the report, the two companies are planning to submit a joint bid for the tender to purchase the Haifa Port from the Israeli government.

The report also states that the agreement was signed a few days ago, during a visit to the UAE by Shlomi Fogel, a key controller of Israel Shipyards.

Fogel, according to the report, is among the many Israeli businesspeople moving quickly to forge deals with the Gulf state in the wake of the U.S.-brokered Abraham Accords that were formally signed between Israel, the UAE and Bahrain at the White House on Tuesday.

DP World says its “operations include ports and terminals, but also industrial parks, logistics and economic zones, maritime services and marinas,” and that its goal is “to be essential to building the bright future of global trade, ensuring everything we do leaves a long-lasting positive impact on economies and the world.”

Israel’s Ministerial Committee for Privatization approved plans in January to sell the Haifa Port to a “strategic buyer.”

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