Singapore is set to open an embassy in Israel some 53 years after the two countries established diplomatic relations, it was announced on Monday.

The proclamation was made during a meeting in Jerusalem between Israeli Foreign Minister Yair Lapid and his Singaporean counterpart, Vivian Balakrishnan.

Israel’s Ministry of Foreign Affairs said in a statement that the embassy in Tel Aviv will be a focal point and “support Singapore companies seeking to expand their collaboration with potential Israeli partners.”

Also on Monday, Balakrishnan and Orit Farkash-Hacohen, Israel’s Minister of Innovation, Science and Technology, signed a Moratorium of Understanding (MoU) on cooperation in artificial intelligence between the two countries. The MFA said that during Balakrishnan’s stay in Israel he will also visit the technology investment platform OurCrowd and “meet prominent personalities in Israel’s technology industry.”

Singapore and Israel established diplomatic ties in 1969.

The Singapore-Israel Industrial Research & Development Foundation is also celebrating its 25th anniversary this year. It has funded roughly 190 projects and provided about $120 million to projects between Singapore and Israel.

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