Opening the commission's plenary session, Viktor Zubkov said, in part:

"This session is taking place at a momentous time. This year marks the 20th anniversary of the restoration of full-scale diplomatic ties between Russia and Israel. Our relationship has stood the test of time, rising to a new height over the past two decades.

"Trade and economic cooperation between Russia and Israel is quite successful, which has allowed us make the creation of a close, mutually beneficial partnership a priority of our bilateral agenda.

"Indeed, Israel is a very important partner for us in the Middle East. And we are pleased for the opportunity today to discuss current issues of Russian-Israeli trade and economic cooperation. We believe that such discussions are greatly important for strengthening peace and stability in the Middle East, especially in these turbulent times.

"At the commission's previous session, we focused on ways to achieve greater efficiency and qualitative growth in bilateral cooperation. Today we can talk about the first tangible results of our efforts, which need to be further developed and consolidated.

"Last year bilateral trade grew by 54%, to $2.6 billion, which nearly reached the pre-crisis highs of 2008. The upward trend continued into this year, with a year-on-year growth of 5.6% between January and September, totalling $2.1 billion. The structure of our trade needs to be streamlined even further.

"As for the regulatory basis of our economic cooperation, in March 2011, we signed the Agreement on Cooperation in Space Exploration and the Use of Outer Space for Peaceful Purposes. This accord opens up new possibilities for cooperation in this area. We also made preparations to sign the Memorandum on Mutual Understanding and Cooperation in Emergency Prevention and Relief.

"Work is currently underway on an agreement to stimulate and mutually protect our investments. This is an important document, one which demands meticulous effort on the part of both Russian and Israeli experts.

"Also, we are working to create provisions for bilateral cooperation agreements on pensions for Israel-based Russian nationals, on audio and visual content, and on air traffic. Our work does not always proceed smoothly, but we are making progress.

"There has been substantial progress in priority areas of our cooperation, such as high-tech industries, energy, agriculture, transport and tourism.

"We hold regular expert meetings, including within our commission's standing and ad hoc groups. These meetings have generated a number of concrete agreements, and we can see good prospects for the implementation of several emblematic collaborative projects between Russia and Israel.

"As for high-tech cooperation, the Agreement on Cooperation in Industrial R&D has now gone into effect. The Russian state-owned corporation, Rusnano, and the Office of the Chief Scientist at Israel's Trade Ministry, are holding competitions among Russian and Israeli companies to select participants for collaborative projects.

"Along with cooperation as part of that agreement, Rusnano is running three joint industrial projects with Israeli firms: two in electronics and the third in polymer production.

"The Russian Fund of Fundamental Research and the Israeli Ministry of Science and Technology cooperate effectively in holding joint competitions for research projects in mathematics, physics, geology, geophysics and innovative materials.

"In the energy sector, we regard our countries' cooperation in the following areas to be particularly promising: the development of gas fields on Israel's continental shelf, energy-saving technology and the use of renewable energy sources, the supply of Russian electrical engineering equipment for power plants in Israel, joint prospecting and the development of oil deposits in Russia.

"Gazprom is also interested in cooperation with Israel's National Infrastructure Ministry, in order to consider projects on the Russian company's involvement in the development of Israel's internal gas infrastructure, and on potential cooperation in the distribution and export of Israeli natural gas to other countries.

"In agriculture, Russia is particularly interested in developing cooperation with Israel in sectors such as the sharing of innovative technology. This could apply to horticulture, greenhouse farming, land irrigation, storage and processing of produce, equipment supplies for the food and processing industries, as well as for animal husbandry, plant cultivation, production of livestock fodder, export of Russian wheat, flour and pasta, cattle breeding and so forth.

"Our countries cooperate in areas including plant cultivation, animal husbandry, the food and processing industries and in the construction of animal farms across Russia. Under a joint investment project, an animal farm and a dairy facility are currently being constructed in the Stavropol Territory.

"A project for the construction of a combined fodder factory is set to be launched in the Rostov Region. In 2011, a joint investment project began to be implemented to produce and process milk in the Tambov Region. Another joint agrarian project is currently being implemented in the Jewish Autonomous Region that is aimed at creating an animal farm for 1,500 head of cattle and a soy processing facility.

"One other important area of Russian-Israeli cooperation is in information technology and telecommunications. This spans a wide range of segments, including electronic communications, mobile and satellite communications, postal correspondence, IT, public education and the media.

"Bilateral agreements of particular note on transport include those concluded by our countries' aviation authorities on new air routes. This contributes to the steady growth of passenger traffic between our two countries.

"Mosmetrostroi, Russia's largest company specialising in the construction of subways and tunnels, has been operating in Israel since 2010. In partnership with an Israeli company, Mosmetrostroi has won a contract for the construction of tunnels for a high-speed rail link between Tel Aviv and Jerusalem. Tunnel driving is set to begin here in February 2012.

"Cooperation is ongoing in the diamond sector as well. The Russian producer ALROSA has been cooperating with Israeli firms for a long time. Direct supplies of rough diamonds to Israel reached nearly $300 million last year, and they are expected to reach the same level this year.

"Unfortunately, interbank cooperation remains underdeveloped. I suggest that the ministries concerned along with the banking regulators in both countries develop a mechanism through which Russian and Israeli banks could become a powerful instrument of mutual trade and for servicing bilateral collaborative projects.

"We're also working to promote cooperation between the business circles of Russia and Israel. Russian-Israeli and Israeli-Russian business councils are in operation. In 2010, Moscow and Tel Aviv hosted representative Russian-Israeli business forums. The business forum that took place in October of this year was devoted to Israeli technological developments in homeland security, business security, integration and management. I believe it is necessary to continue holding Russian-Israeli business gatherings of this nature on a regular basis.

"Russia welcomes the participation of Israeli business in the implementation of Russian national priority programmes in agriculture, healthcare, construction and public education."

* * *

During the session, the participants outlined a plan of action to further advance cooperation in such priority sectors as energy, mechanical engineering, pharmaceuticals, high technology, transport, telecommunications, space exploration and agriculture.

The results of the talks were recorded in a final protocol, which was signed by Mr Zubkov and Mr Lieberman at the conclusion of the session.

The Russian Emergencies Ministry and Israel's Interior Security Ministry concluded the Memorandum on Mutual Understanding and Cooperation in Emergency Prevention and Relief. Mr Lieberman signed the document on behalf of Israel, and Emergencies Minister Sergei Shoigu, for Russia. The parties also signed a cultural cooperation programme through the year 2013, between Russia's Culture Ministry and the Foreign Ministry of Israel.