Vatican City (AsiaNews) - "Very significant progress" has been reached between the Vatican and Israel in work to conclude an agreement "concerning economic and fiscal matters." This according to a joint statement released today.

The text reports that the Bilateral Permanent Working Commission between the Holy See and the State of Israel met today 14 June 2011, in plenary session at the Vatican, to continue negotiations on the Fundamental Agreement Art 10 paragraph 2. It covers the issues of ownership, tax issues and some economic issues. These concern the State's participation in educational and social services of the Church, which are for the benefit of the entire population of the state.

Negotiations have been on going for 19 years and aim to reach global agreement on many pending issues.

The statement said, "negotiations took place in an open, friendly and constructive atmosphere and very significant progress was made. The Parties have agreed on the next steps towards the conclusion of the Agreement, and to hold the next Plenary meeting on 1st December 2011 at the Israeli Ministry of Foreign Affairs"

The meeting was chaired by Mgr. Balestrero, Under-Secretary for Relations with States, and. Danny Ayalon, MK, deputy-minister of Foreign Affairs. At the beginning of the meeting, the Delegations bid farewell to Monsignor David-Maria A. Jaeger OFM, for 19 years the Legal Adviser to the Delegation of the Holy See, who has now been promoted by the Pope to Prelate Auditor of the Roman Rota. The chairmen of the two delegations expressed appreciation for the work of Msgr. Jaeger all those years. Msgr. Jaeger, in turn, expressed his best wishes to those present for the successful continuation of their work.