Ukraine and Israel have signed on Wednesday an intergovernment agreement on mutual promotion and protection of investment. The signing ceremony took place in Kyiv and was chaired by presidents of the two states, according to the president's press office.

"We consider your visit a confirmation of friendly and partnership relations between Ukraine and Israel. I am confident this visit will give a powerful impetus to development of Ukrainian-Israeli cooperation and will define the priorities of our cooperation for the future," the President of Ukraine at the beginning of the negotiations.

Speaking about the importance of further development of bilateral dialogue between our countries, the President called Israel an important political and trade-economic partner of Ukraine in the Middle East.

The Ukrainian side appreciates the dynamic development of Ukrainian-Israeli relations, Viktor Yanukovych said, referring to significant acceleration of bilateral political contacts in 2009 and 2010 as well as active cooperation at the level of Foreign Ministries of Ukraine and Israel.

"We attach great importance to the inter-parliamentary ties, but in my opinion their potential is not fully used. I think that we could suggest to our Parliaments considering exchange of high-level visits in the near future to discuss issues of bilateral cooperation," he said.

President Yanukovych drew special attention to constructive dialogue between Ukraine and Israel in the UN and other international organizations.

"I am convinced that fruitful exchange of views on the pressing international issues will facilitate the convergence of positions of Ukraine and Israel," Viktor Yanukovych said.

From his part, President Shimon Peres expressed appreciation of the warm reception of his delegation in Ukraine. "I think Ukraine and Israel share a very interesting history, with its ups and downs," he said, referring in particular to the fact that Ukraine has long been a place of residence of a large number of Jews, who retained their culture.

"We certainly appreciate all the positive changes that occur in our relations," Shimon Peres said.

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