The Commission on behalf of the EU signed an agreement with Israel that will allow the EU’s Galileo global-navigation satellite system to establish a satellite receiving station in Israel. In addition, it has been also signed a deal on deepening cooperation in the field of tourism.

Industry Minister Shalom Simhon and European Commission Vice President Antonio Tajani signed an agreement in Tel Aviv in which cooperation between Israel and the European Union is set to expand into space. In particular, the agreement will allow the EU’s Galileo global-navigation satellite system to establish a satellite receiving station in Israel.

Additionally, Mr Tajani's visit to Israel also served to sign a deal on deepening cooperation in the field of tourism. Mr Simhon and the Commissioner also discussed deepening ties between small-business experts from Israel and Europe and expanding the participation of Israeli companies in European-funded R&D programs.

Mr Tajani also met with President Shimon Peres and Prime Minister Binyamin Netanyahu. With Mr Stanley Fisher, governor of the Bank of Israel, he discussed the Euro zone and sovereign debt crisis. According to the Commissioner, European leaders could learn from the example set by Israel as they work to rescue the region from financial crisis. He made this statement at the EU-Israel Business Dialogue, a forum of business leaders from Israel and the EU set up to promote bilateral trade, investment and joint ventures and to advocate the common business interests vis-à-vis the political leaders on both sides.