Steve Ballmer of Microsoft.

Israeli Prime Minister Benjamin Netanyahu and Finance Minister Yuval Steinitz met with Microsoft CEO Steve Ballmer in Jerusalem on Monday morning to discuss cooperation in the field of teleprocessing technology, Israel Hayom reported.

Israeli Finance Ministry Chief Information Officer Carmela Avner and Microsoft Israel CEO Danny Yamin were set to sign a memo of understanding defining the parameters of the strategic cooperation between Microsoft and Israel, and including mechanisms for exchanging information and know-how in a number of fields, as well as the development of joint infrastructure intended to encourage investment in the field of international teleprocessing.

Within this cooperative framework, the sides will also work to promote and develop technological innovation, launch government policies, implement technology to reduce bureaucratic burdens, better handle large databases, improve information security and privacy protection, improve access to government services, exchange information, launch community projects in Israel and advance Israeli technology and start-up companies.

“The combination of Israel and Microsoft is a natural one because the Israeli high-tech industry is one of the world leaders,” Netanyahu said at the meeting. “Microsoft understood Israel’s potential many years ago, and has since enjoyed the fruits of Israel’s quality manpower.”