ROME (AP) — Israeli Prime Minister Benjamin Netanyahu says his nation's agreement with Turkey to normalize ties will have immense implications for the Israeli economy.

Netanyahu says it is an important step and will create oil and other economic opportunities. He says he will speak more about the deal at midday on Monday in Rome.

Netanyahu was speaking alongside U.S. Secretary of State John Kerry, whom he was meeting with for the second time in as many days. Netanyahu recalled his conversations with Kerry's point-man for energy issues, who outlined the potential benefits of improving Israeli-Turkish ties.

Kerry welcomed the agreement and congratulated Netanyahu. He said the U.S. has been working on the rapprochement for several years, and called it a "positive step."