Israel and Australia's economic relations spans several decades and dates back to the 1950's. These days there are 3 different agreements for bilateral cooperation in research and development and technological innovation and 2 active bilateral funding programs. These agreements aim to encourage industrial R&D cooperation and increased business ties between private sector firms from Australia and Israel.
The relations around innovation and R&D joint projects have started at 2005 with the agreement between the Israel and the state of Victoria. In 2016 second agreement was signed between the Government of the Australian State of New South Wales (NSW) and the State of Israel in the presence of the Premier of New South Wales (NSW). These agreements serve as a basis for the R&D Cooperation programs. Under the programs, Israeli and Australian companies from Victoria and NSW have access to government funding for collaborative R&D projects as well as assistance in locating R&D and business partners.
In 2017, during the visit of the Israeli Prime Minister, Mr. Benjamin Netanyahu, in Australia the third agreement was signed in the federal level.
