TEL AVIV, ISRAEL--(Marketwire - June 28, 2012) -
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The Honourable Joe Oliver, Minister of Natural Resources, today met with Israeli Prime Minister Benjamin Netanyahu and concluded his economic mission to Israel, where he promoted closer cooperation between the two countries in the energy sector and science and technology.
"We have achieved tremendous progress in trade, investment innovation and scientific collaboration since signing a free trade agreement with Israel 15 years ago," said Minister Oliver. "Canada's role as a global energy supplier and continued interest in energy cooperation with Israel underscores the important strategic relationship between the two countries."
During the trip, Minister Oliver and Dr. Uzi Landau, Israeli Minister of Energy and Water Resources, signed a new agreement on energy co-operation that will strengthen ties and increase bilateral relations on offshore development, new sources of oil and gas supplies and renewable energy.
Minister Oliver participated in three roundtables with business leaders and oil and gas industry executives. He also visited the Technion Institute of Technology in Haifa and discussed its research in nanotechnology, aerospace and chemical engineering and its existing academic partnerships with Canadian universities.
The Minister also met with Helio Focus and Elbit Systems, two Israeli companies with a focus on clean and renewable energy technologies. The Minister discussed potential investment opportunities for these companies in Canada.
The Minister acknowledged the success of Canadian and Israeli private companies in establishing themselves in each other's country and promoted Canada as a destination of choice for further Israeli investments. The Minister highlighted the scale of Canada's natural resource megaprojects over the next 10 years, worth more than $500 billion, and Canada's commitment to modernizing the regulatory system for major resource projects.
Over the last 18 years, more than 70 full-scale industrial research and development projects have been initiated between the two countries, involving more than 120 companies.
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