David Cameron will arrive in Israel today to promote stronger ties with Britain in the technology and innovation industries.
The Prime Minister said he would tell Israeli leaders that peace with the Palestinians could bring "economic growth and create jobs for all".
Mr Cameron is expected to announce details of multi-million pound deals with Israeli companies working on regenerative medicine and renewable energy.
There will also be investment deals totalling more than £70 million to research dementia and open Israeli medical companies in Bristol and north - east England.
The Prime Minister will also support US Secretary of State John Kerry's peace initiative and will visit Palestinian leaders on Thursday.
Mr Cameron, who will address the Knesset later today, said: “I’m very much looking forward to my first trip to Israel and the Palestinian Territories since becoming Prime Minister.
“Secretary Kerry’s efforts to secure agreement on a negotiating framework that could lead to peace are entering a critical phase. I want to encourage Prime Minister Netanyahu and President Abbas to build on the strong leadership they have shown so far and to take the final difficult steps towards peace.
“The prize could be great: a stable, prosperous Middle East with a sovereign and viable Palestinian state living in peace alongside a secure Israel at the heart of it. A secure future. A prosperous future. That’s what we should all set our sights on."
Joining Mr Cameron in Israel will be members of his Holocaust Commission. Mick Davis, who chairs the new group, will travel to Jerusalem, as will Sir Peter Bazalgette, Dame Helen Hyde, Shoah survivor Ben Helfgott and Natasha Kaplinsky.
Business leaders on the Prime Minister's plane include Xavier Rolet, London Stock Exchange chief executive; Clive Dorsman, of Talk Talk, which works with Israeli tech companies on broadband expansion; Dominic Rose, head of strategy at ASOS; and Nicola Cobbold, chief executive of the Portland Trust, which promotes economic development for Israelis and Palestinians.
A number of Conservative MPs will also travel as part of the delegation, including Conservative Friends of Israel chairman James Clappison, Hendon MP Matthew Offord and Finchley and Golders Green MP Mike Freer.