The United Arab Emirates opened its embassy in Tel Aviv on July 14. Attending the ceremony were recently sworn-in President Isaac Herzog of Israel and the UAE’s ambassador to Israel, Mohamed Al Khaja.

The embassy is located in the Tel Aviv Stock Exchange building, and its opening followed the inauguration of Israel’s embassy in the UAE last month.

Greeting the crowd in Arabic and Hebrew, the UAE ambassador described the opening of the embassy as “an important milestone” marking “a significant point in the vision of the Abraham Accords” and cooperation between the two nations. The Abraham Accords, signed last year, aimed to normalize relations between Israel, each of the United Arab Emirates, and Bahrain.

Herzog, who was sworn in as Israel’s 11th president the week before, expressed gratitude for being able to take part in such a historic event at the start of his tenure, and alluded to the possibility of more regional peace agreements.