"With the growth in the population and the rise in need for fresh water, water in the Middle East will soon become more valuable than oil," Energy and Water Minister Uzi Landau said, in his recent meeting with Veolia president Antoine Frerot in France.
The two met while Landau was visiting the 6th World Water Forum in Marseille.
Landau lauded Israeli water technology, saying that "After seven years of drought having a regular water supply is not something you can take for granted."
Landau welcomed the possibility, adding: "Israel has research and development centers by some of the world's leading companies. I hope we can expand our ties with Veolia and with other nations in the region.
"I hope Veolia decides to open an R&D center in Israel," he added.