Economy Minister Nir Barkat told Saudi Arabia’s Commerce Minister Majid bin Abdullah Al-Qasabi on Monday that the two countries can “make history” together during the World Trade Organization’s ministerial conference in Abu Dhabi.

The two ministers were seen shaking hands and chatting amicably on the sidelines of the conference. They also exchanged business cards.

“Israel is interested in peace with countries that seek peace, and we can make history together,” Barkat told his counterpart, according to a statement from the Economy Ministry.

Trade ministers from 160 countries were in Abu Dhabi for the four-day WTO meeting, which is aiming to set new global commerce rules despite pessimism about the likelihood of any major breakthroughs amid increasing economic divisions that reflect emerging rival global political blocs.

The US Biden administration has been working to secure a landmark deal that will see a normalization in ties between Saudi Arabia and Israel. The kingdom and other Arab countries are seeking steps toward the creation of a Palestinian state as part of the potential agreement. In 2020, Israel signed normalization deals with Bahrain, Morocco, and the UAE, the host of the WTO conference.

To create some wiggle room in talks about recognizing Israel and to get the US-brokered pact back on track, Saudi officials have told their American counterparts that Riyadh would not insist Israel take concrete steps to create a Palestinian state and would instead accept a political commitment to a two-state solution, two senior regional sources told Reuters earlier this month.

Riyadh is increasingly eager to shore up its security and ward off threats from rival Iran so the kingdom can forge ahead with an ambitious plan to transform its economy and attract massive foreign investment.

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