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1. The purpose of cooperation between the Community and Israel shall be to promote, in particular: - the development of Israel's production and economic infrastructure in order inter alia to foster the complementarity of the Contracting Parties' economies and, in particular, to promote the industrialization of Israel, - the sales promotion of products exported by Israel, - industrial cooperation through inter alia measures: - to encourage the implementation of Israel's industrial development programmes, - to foster the organization of contacts and meetings between Israeli and Community industrial policy-makers, promoters and firms in order to strengthen their relations in the industrial field in conformity with the objectives of the Agreement, - to facilitate reciprocal access to technological know-how and the acquisition of patents and other industrial property, - to permit the removal of non-tariff and non-quota barriers likely to impede access to either market, - cooperation in the agricultural and fishery sectors with a view to achieving complementarity between the Contracting Parties' economies,

- the encouragement of private investments which are in the mutual interest of the Contracting Parties, - exchange of information on the economic and financial situation, and on the trend thereof, as required for the proper functioning of the Agreement, - cooperation in the field of science, technology and the protection of the environment.

2. The Contracting Parties may decide on further areas of cooperation.

Aid contributed by the Bank for the execution of projects may, with the agreement of Israel, take the form of co-financing.