Israeli public company Israel Aerospace associates with Boeing for potential contracts in aviation

(Reuters) – Israeli public company Israel Aerospace Industries (IAI) announced on Wednesday that it has signed an agreement with US planner Boeing Co last week to cooperate in commercial and military aviation in Israel and in other markets.

As part of the deal, Boeing is expected to provide IAI with multi-billion NIS contracts for the potential sale of its new tanker and other defense products.

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Last month, Boeing signed a "reciprocal shopping" partnership with Israel, agreeing to spend billions of dollars in the country over the next decade if it wins major defense contracts .

The agreement provided for Boeing to work with Israeli industries for at least 35 percent of the value of any dealings with the Israeli government.

The Israeli Air Force is currently evaluating the purchase of Boeing fighter jets, helicopters and tanker aircraft, which could amount to more than $ 10 billion.

(Report by Ankit Ajmera in Bengaluru, edited by Saumyadeb Chakrabarty)