During the meeting, participants noted the improvement in Russian-Israeli trade and economic relations.

Bilateral trade is emerging from under the consequences of the global financial and economic crisis. In 2010, trade increased by 54% and totaled $2.6 billion, nearing the 2008 pre-crisis all-time high of $2.8 million.

In 2011, bilateral trade grew at a slightly lower rate. From January through September, it increased by 5.6% and totaled $2.1 billion, with a decrease in Russian exports and an increase in Israeli imports.

The legal foundation for bilateral cooperation is developing steadily. In March 2011, the sides signed an agreement on cooperation in the exploration and peaceful use of space, and drew up a memorandum of understanding for cooperation in emergency prevention and response. The two countries continue to work on cooperation agreements in the spheres of pension provision for Russian citizens residing in Israel, air traffic, and audiovisual production.

There has also been progress in priority fields of cooperation, such as energy, innovation, agriculture, transport, and tourism. Russia and Israel either have reached agreements or are in the midst of talks on implementing concrete projects. The two countries are also expanding links between their business communities, including links between Russian-Israeli and Israeli-Russian business councils.

"Positive trends in Russian-Israeli cooperation will be formalised in the final protocol of the commission's 9th session scheduled for December 7 and 8 in Moscow. Along with it, we have to develop measures to resolve outstanding problems and issues in our cooperation to make it more dynamic and efficient," Viktor Zubkov said at the end of the meeting.

Russia and Israel have agreed to hold the 9th session of the Joint Russian-Israeli Commission on Trade and Economic Cooperation on December 7 and 8 in Moscow.