Netanyahu calls for tripling of Aust trade

Benjamin Netanyahu says he would like to triple trade between Israel and Australia.

The Israeli prime minister and some of his ministers met with Malcolm Turnbull and senior ministers in Sydney on the second day of the historic visit, which also includes a large business delegation from the Jewish state.

"Our trade is a $1 billion - it should be at least double or triple that and I'd like to encourage Australian and Israeli companies to increase their trade," Mr Netanyahu told the meeting.

Mr Turnbull told the meeting the two nations should be doing more to co-operate.

"There is so much scope for co-operation," he said.

"We have the same values - democracy, freedom, the rule of law.

"We are combating the same enemies - terrorists that seek to subvert those values and deny us our ability to live in a free society - and we are both committed to the innovation which we know will drive the productivity to keep rising in aspiration, in achievement, in prosperity."