Finance Ministry, Microsoft to sign cooperative agreement

November 5, 2012 10:09

Finance Minister Yuval Steinitz met with Microsoft CEO Steve Ballmer Monday morning in Jerusalem to discuss a strategic cooperation agreement to promote Internet Cloud Technology.

According to the Finance Ministry, the government is set to sign a memorandum of understanding with Microsoft that will outline the parameters of the relationship, including the mechanisms for exchanging information and expertise.

Finance Minister Steinitz hailed the partnership, saying "global companies should be encouraged to invest in Israeli technology and establish development centers in the country."

"These investments yield mutual benefits," he continued, "the Israeli government benefits from global knowledge, whereas companies benefit from Israel's human capital and the relative advantage of the country's hi-tech industry."

For his part, Ballmer praised Israel's technological innovation as "the driving force behind Israel's dynamic economy."

"Microsoft is proud to work in an environment that nurtures innovation and has created such a large number of successful companies," he said.

Ballmer was also scheduled to meet with Prime Minister Binyamin Netanyahu later in the day.

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