Israel has announced that it had signed a $305 million deal with the Netherlands on the export of Israeli-made artillery rocket systems.

“This is the first government-to-government defence exports agreement signed between Israel and the Netherlands, and one of the largest agreements signed between Israel and a European country in the past years,” the Israeli Defence Ministry said on Thursday in a statement.

Under the agreement, the Israeli Ministry will supply 20 Precise and Universal Launching System (PULS) artillery rocket systems to the Royal Netherlands Army over a period of five years, Xinhua news agency reported.

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The system is manufactured by Elbit Systems, an Israeli-headquartered weapons and security company. The system supports the firing of both free-flying rockets and precision-guided rockets and missiles ranging from 12 to 300 km.

The deal was signed by Israeli and Dutch officials in the Netherlands on Wednesday and approved by Israeli Defence Minister Yoav Gallant on Thursday.

The deal marks a significant event symbolising “the strategic relationship between our countries and constitutes an opportunity to strengthen our partnership based on mutual values and morals,” Yair Kulas, director of the Defence Ministry’s International Defence Cooperation Directorate, was quoted as saying in the statement.

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