Netanyahu: Turkey Deal to Have ‘Immense’ Impact on Economy

ROME (Reuters) -
U.S. Secretary of State John Kerry talks with Israeli premier Benjamin Netanyahu, left, during their meeting at Villa Taverna, U.S. Embassy, in Rome, Italy, Monday, June 27, 2016. (Giuseppe Lami/ANSA pool via AP)
U.S. Secretary of State John Kerry (R.) talks with Israel Prime Minister Binyamin Netanyahu during their meeting at Villa Taverna, U.S. Embassy, in Rome, Italy, Monday. (Giuseppe Lami/ANSA pool via AP)

An agreement to normalize ties with Turkey after six years will have a positive impact on Israel’s economy, Prime Minister Binyamin Netanyahu said on Monday.

Speaking after meeting U.S. Secretary of State John Kerry in Rome, Netanyahu said the agreement, announced by Israeli and Turkish officials on Sunday, was “an important step.”

“It has also immense implications for the Israeli economy, and I use that word advisedly,” he told reporters together with Kerry. Israeli officials have raised the prospect of lucrative Mediterranean gas deals once ties with Turkey were mended.

Kerry welcomed the agreement, saying, “We are obviously pleased in the administration. This is a step we wanted to see happen.”

Israel and Turkey on Sunday reached agreement to end a rift that began in 2010. A formal announcement of the deal is expected later on Monday.