Israel has signed up to take part in the EU's Galileo satellite navigation programme.
Under terms of the agreement Israel will participate in a number of activities involving satellite navigation and timing, including science and technology, industrial manufacturing, service and market development as well as standardisation, frequencies and certification.
Israel has also been invited to take a financial stake in the Galileo programme through a holding on the Galileo Joint Undertaking, under which countries agree to jointly manage the project in return for sharing the funding costs, estimated at €3.25bn (£2.17bn) in the first year.
The EU has also signed co-operation agreements with the US and China.
The agreement with Israel will be a “big boost” for the Global Navigation Satellite System market, the csaid. The market represents three billion receivers worldwide and potential revenue of €250bn per year by 2010.
By the end of this year, the EU expects to sign agreements with Russia, India, the Ukraine, Brazil, South Korea, Mexico and Australia.
Galileo is the EU’s satellite navigation system, developed jointly with the European Space Agency. It is designed to provide the development of a new generation of service using satellite navigation technology, including transport, telecommunications, agriculture and fisheries.
Simon Taylor writes for IDG News Services