Missile Defense Agreement:

Perry and Peres have also agreed to develop a missile defense system to protect Israel from weapons of mass destruction. In a joint project financed by $300 million from Israel and $200 million from the U.S., the two countries will share research and technology in an effort to establish a missile defense system within five years. Perry said the deal would "permit Israel to continue to take the risks of peace required to negotiate a just, comprehensive and lasting peace." Mark Thompson predicts the partnership won't be controversial. "While some will say such a system doesn't address terrorism, which has become the predominant problem, the U.S. military would benefit from whatever technological innovations are achieved."