Israeli firm Trucknet will soon see its technology in use in Saudi Arabia by way of a Bahrain-based logistics company’s trucks providing service to US military vehicles.
This is the result of a Memorandum of Understanding signed earlier this week with Cox Logistics W.L.L., a transportation and logistics company with its biggest offices in Bahrain but which operates in Europe, the Middle East, Africa, and the Caucasus.
This deal, signed by Trucknet CEO Hanan Friedman in the presence of Foreign Minister Eli Cohen during an official delegation to Bahrain, will see Cox incorporate Trucknet’s all-in-one digital, cloud-based platform to help reduce costs and save resources.
Israel-Gulf ties can lead to a logistics boom
“It’s an honor for us to be included as part of a business delegation to Bahrain,” Trucknet CEO Hanan Friedman said in a statement. “We were warmly welcomed by hour hosts, who showed genuine interest in Israeli technology and our capabilities as the Start-Up Nation.”
Commenting further, Friedman added: “This is not only a very large potential market, but also an advanced kingdom that wants to be at the forefront of global technology – and for Israeli businessmen, Bahrain is an excellent starting point for the entire Gulf. The value of the logistics market in the Gulf Cooperation Council (GCC) was $47.5 billion in 2018 and is expected to reach $66.3 billion by 2026.”
The CEO further stated that the “recent normalizations between Israel and some of the GCC member states may have a significant impact in the field of logistics.”