Export Institute: Israeli trade with Muslim countries extensive

Export Institute chairman David Arzi: The scale of this trade is due to Israeli exports of software and components to factories of multinational companies.

“Bilateral trade between Israel and Muslim countries that have no formal ties with Israel amounts to hundreds of millions of dollars annually,” said Israel Export and International Cooperation Institute chairman David Arzi at the Prime Minister’s Conference for Export and International Cooperation today.

Arzi continued, “The scale of this trade is due to Israeli exports of software and components to factories of multinational companies located in Muslim countries. Previously, during the days of the Arab boycott, this trade was impossible, certainly not at the current scale. The situation is now completely different.”

Manufacturers Association president Shraga Brosh said, “The peace process with the Palestinians and Arab countries, despite problems, opens opportunities that businesspeople should exploit, thereby improving and promoting the economies and welfare of all the nations in the region.” He added, “Only a growing Palestinian economy will enable the peace process to make real progress.”

Brosh said Israel and Western countries therefore had an important interest in creating conditions for further economic cooperation and building a positive business climate based on mutual benefit. He said Israel’s trade with North African countries was taking a large step forward. The Export Institute will participate in an international trade fair in Tunis this month, among other things.

Brosh said Israel could not remain satisfied with this year’s export growth (3.5%, compared with 17.5% last year). “We must achieve 6% export growth a year in order to narrow social gaps and reduce unemployment.”

Published by Globes [online], Israel business news - www.globes.co.il - on November 10, 2005

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