In early 1998, there were fears in Israel that the EU would not allow it to participate in the fifth Research and Development program of the European Union, as an expression of the latter's displeasure over the slow pace of the peace process. Involvement in the EU R&D framework plan was of utmost importance to the future of Israel's industry, mainly hi-tech industries, and thus it became a major concern to ensure Israel's participation in this project. Text:
Prime Minister Benjamin Netanyahu today (Monday), 15.6.98, convened a discussion in his Jerusalem office on the fifth framework plan of the European Union. Taking part in the discussion were: the Industry and Trade Minister, the Finance Minister, the Director-General of the Prime Minister's office and representatives of the Foreign Ministry and the Budget and Planning Committee.
The Prime Minister authorized the negotiating team to initial the agreement for Israel's joining the fifth research and development program of the European Union.
Israel thus becomes the only non-European state to have full membership in the framework of the EU Research and Development program. The project totals $15 billion over a period of four years, and Israel's involvement will enable Israeli industry and academia to draw from these resources.
The cost of participation, $40 million per year, will be borne by the Finance Ministry, Industry and Trade Ministry, Science Ministry and the Budget and Planning Committee.
Prime Minister Netanyahu and Industry and Trade Minister Natan Sharansky emphasized the long-term strategic importance of this decision, and the help it will give for promoting Israeli industry, mainly in Europe and in particular in the hi-tech industries.