The space agencies of Russia and Israel have signed an agreement on cooperation in the exploration and use of outer space, the press office of the Russian federal space agency Roscosmos said on Sunday.

The document aims to create a legal and organizational framework for the development of mutually advantageous Russian-Israeli cooperation in outer space, including the use of space technologies for peaceful purposes, the press office said.

Roscosmos head Anatoly Perminov said bilateral cooperation in outer space was at the initial stage and involved efforts to establish contacts between Russian and Israeli companies in the rocket and space industry.

"At the same time, today our countries have a positive experience of mutually advantageous cooperation in outer space. It will suffice to say that five Israeli spacecrafts have been orbited with the help of Russian carrier rockets," Perminov was quoted as saying.

'Russia is currently making a telecommunications satellite, Amos-5, in the interests of the Israeli customer," Perminov said.

The agreement meets the political and economic interests of both countries and will help them fully realize their potential of large-scale, long-term space projects, the statement said.