MINISTRY OF ECONOMY LAUNCHES ISRAEL-TRADE.NET

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Israel-Trade.Net is Virtual Information Sharing Center And Knowledgebase, Allowing Industrialists To Network With Foreign Trade Administration Decision Makers Regarding International Trade And Investments

JERUSALEM – March 11h, 2015 – Israel's economy is one of the most open to international trade in the world. Exports and imports constitute two-thirds of the gross domestic product. Therefore, decisions on foreign trade policy can have a tremendous impact on the economy and even on day-to-day life. In light of the importance of international trade and a policy to increase transparency in the Ministry of Economy's decision-making process, the Foreign Trade Administration (FTA) at Israel’s Ministry of Economy has launched a website where industrialists can engage in dialogue with ministry officials on issues of foreign trade.

Ohad Cohen, Head of the Foreign Trade Administration, noted that the administration is in constant contact and consultation with economic organizations such as the Israel Manufacturers Association, The Israeli Chamber of Commerce and the Israel Export Institute. “Nevertheless, it is important to create additional mechanisms that will allow as many relevant parties in industry to be directly exposed to the issues in which the ministry is involved. The new platform allows decision makers to be in direct dialogue with all parties in the country involved in industry and to remain attentive to their needs as they navigate the complex issues influencing the ongoing agenda of Israeli foreign trade. The ability to reach industrialists, hear new ideas and be directly exposed to their daily activities will help us deal with the complex challenges of the international trade network, where one must regularly exchange information to keep abreast of new developments."

Through this new platform, FTA officials seek to hear out industrialists and examine the needs of the business community involved in international trade (importers, exporters, industrialists, service companies, etc.), as well as to examine the possible influence of different policy initiatives related to international trade on the local market.

The website will be dynamic and the issues discussed will change according to the activity of the FTA.

The website became operational during the past month. The first issues open for discussion include:

* The free trade agreement between Israel and Panama

* A new trade agreement canceling customs on products which contribute to the environment

* Appropriate business conduct throughout the supply network in the field of agriculture (in cooperation with the OECD)

To the website

The Foreign Trade Administration (FTA) at the Israel Ministry of Economy is the government authority entrusted with formulating and leading Israel's foreign trade policy. The administration aims at increasing the competitiveness of Israeli industry while reinforcing Israel's industry and economy as an international brand, highlighting innovation, creativity and originality as hallmarks of the Israeli economy. The FTA is responsible for Israel's trade policy vis-a-vis other global economies and is in charge of formulating cooperation and free trade agreements. The FTA operates a network of 41 trade attachés in financial capitals around the world to help Israeli companies interested in penetrating these foreign markets. In addition, the FTA assists exporters with various types of funding and subsidies.