Today, thanks to the vision of the Israeli and Egyptian leaders, the two countries cooperate on a wide range of issues, meeting in joint committees on various matters. The Joint Military Committee holds regular meetings to coordinate military-defense issues, thus ensuring continual communication between the armies. The Joint Economic Committee meets to promote economic-trade cooperation between the two countries. Especially productive is the field of agricultural cooperation under the Joint Agricultural Committee which meets twice a year. Since its inception in 1981, it has been responsible for the initiation of hundreds of agricultural projects, with the goal of continuously improving the agricultural knowledge and capabilities of the two countries. To date, this cooperation has produced dozens of joint agricultural farms and joint agricultural training programs, for which thousands of Egyptian agricultural trainees have come to Israel. In 2007, approximately 200 Egyptian farmers underwent training on various subjects in Israel.
The Qualified Industrial Zones (QIZ) agreement plays an important role in the bilateral relationship of the two countries. Signed in 2004, the agreement permits Egyptian companies using Israeli agricultural products tax-free exports to the United States. This advanced form of cooperation constitutes a successful model for emulation within the framework of the bilateral relationship. The mutual trade between the two countries in 2008 amounted to 271 million dollars, as opposed to only 59 million dollars in 2004, the year prior to the signing of the agreement - an increase of over 450%.
Another important and central element in the bilateral economic relationship is the Gas Agreement. Valued at US$ 2.5 billion over a 15-year period, this huge contract was signed in 2005 between the Israel Electric Company and the Egyptian East Mediterranean Gas Co. (EMG)
Other areas of bilateral cooperation, albeit somewhat limited, are the areas of tourism, transportation, communications and health.
The Israel-Egypt Peace Treaty has proven its value in political issues as well, on both the bilateral and the regional levels. Despite some difficulties, the peace between Israel and Egypt has proved to be solid and stable, demonstrating the preeminence of the desire for peace which exists in both peoples, as well as the strategic value for both countries. The current peaceful relations constitute the basic reality for all regional political developments, and represent a supportive and contributory factor in the continuation of the Middle East peace process in general and with the Palestinians in particular. Within the framework of the bilateral relations, there is an ongoing dialogue between Egypt and Israel on various issues, including problematical and sensitive matters. The regularity of meetings between the leaders of the two nations is high, and the discussions focus on both bilateral relations and the promotion of the Middle East peace process.