Following a trip to Israel by both Labour and Conservative Members of Parliament to promote bilateral ties, the United Kingdom announced a “landmark” cooperation deal with Israel in the areas of aging and artificial intelligence in a statement released Friday.

Aging and artificial intelligence are two of the four UK government’s Industrial Strategy Grand Challenges. The statement said that the agreement would allow the UK “to develop new technologies and opportunities in these areas to ensure we take advantage of these major global changes,” by working with partners in Israel.

UK Science Minister Sam Gyimah said, “The UK has a strong science and innovation relationship with Israel, and this week I have signed two landmark agreements which will take this to the next level. There are so many strategic opportunities for these two innovation power houses. Increased collaboration will help to realize this potential.”

His Israeli counterpart Eli Cohen said, “This agreement will help drive economic growth in both countries The goal is to create partnerships in which British companies help Israeli innovations go global, and Israeli innovation gives British companies a global competitive edge.”

The agreement signed by both governments provides for £4 million ($5.34 million) in funding for the initiatives; with half of that total being provided by each government.

Previously, British officials have hailed the UK-Israel scientific cooperation. In 2013, when he was in Israel, then-UK Foreign Minister William Hague said, “Both the UK and Israel are scientific superpowers, and many of our universities and academics are already doing tremendous work together.” In 2015, Sir Mark Walport, the chief scientific adviser to the British Government, declared that UK-Israel scientific collaboration was “booming.”

[Photo: Sam Gyimah MP / Twitter ]