Economy and Tourism

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Written by Ministry of Economy and Industry

Published: 26 February 2017

 

 

 

 

Jerusalem. February 26th, 2017 – The new R&D agreement signed during the visit of Israeli Prime Minister Benjamin Netanyahu to Australia between the Israeli government and the federal administration in Australia is expected to strengthen economic ties between the two countries and enable companies from Israel and Australia to receive funding for joint projects in research and development. This agreement comes in addition to existing cooperation agreements with Australian states – one with Victoria and another with New South Wales.

 

The entities in charge of the agreement are the Israel Innovation Authority (formerly the Office of the Chief Scientist) and the Department of Industry, Innovation and Science in Australia.

 

“The agreement constitutes a landmark in deepening ties between Israel and Australia,” said Avi Luvton, director of the Asia Pacific Department at the Israel Innovation Authority. “Programs like this, enabling the private sector to receive financial support for joint projects, are significant for promoting cooperation on innovation. Until today, we have operated cooperation programs with the State of Victoria and New South Wales, but we are proud to expand our plans to the federal level via this agreement enabling support for joint projects between Israeli companies and companies from all across Australia.”

 

The Israel Trade Commissioner to Australia, Ethy Levy, who has worked tirelessly to promote the agreement, said she was certain the federal industrial R&D agreement will contribute significantly to the quality of cooperation between the two countries.

 

Trade between Israel and Australia stands at $1.1 billion annually. In 2016, Israel exported goods and services to Australia worth $700 million.

 

Over the past two years, there has been significant development in trade ties between Israel and Australia as part of the recognition that Israeli innovation has much to contribute to Australian industry. As part of its innovation program, Australia has opened five international centers to bolster its innovation ecosystem. The first one announced by the Australian Prime Minister is the “Landing Pad” in Tel Aviv.

More than 30 Australian business delegations visited Israel in 2016, including delegations from leading Australian companies that have recognized that Israeli innovation and technological development can constitute engines of growth for them.

 

An interesting phenomenon that may significantly strengthen economic ties between the countries is the listing of Israeli technology companies on the Australian stock exchange.

 

Over the past year, nine Israeli companies held public offerings on the Australian stock market (ASX) and today 12 Israeli companies or companies with R&D activity in Israel are traded there, putting Israel in sixth place among foreign countries with companies traded there. Most of these Israeli companies have raised far more capital than they expected and these results may encourage additional Israeli companies to consider this route. There are currently 15 companies considering issuing on the ASX and the assessment is that at least three of them will offer in the coming months. In light of this development, a visit by the directors of the ASX to Israel is expected to take place in Q2 of 2017.

 

Over the past two years there has been a significant rise in economic activity between the two countries and more than 20 Israeli companies now have representation in Australia or have expanded their personnel stationed in the country.

 

Bilateral trade between Israel and Australia, as expressed in import and export, comes to $1.1 billion annually (2016). However, this data does not reflect the real scope of trade. Most Israeli companies active in Australia supply IT services, among them many companies active in cyber-security. Since service exports are not expressed in customs reports and in import/export reports, and since a significant amount of Israeli exports to Australia are carried out through third parties like the U.S., Singapore or European countries, we estimate that the scope of trade is closer to $2 billion.

 

Over the past year, several Israeli companies have won significant tenders in Australia and we expect these to be expressed in the trade data in the coming years.

 

 

 

 

Details

Written by Ministry of Tourism

Published: 21 February 2017

 

 

The Tourism Ministry and the Municipality of Tel Aviv to inaugurate a luxury Pop Up hotel in a lifeguard tower on Tel Aviv Beach

Renovations on the lifeguard tower will begin in the coming days

International competition to be launched in partnership with

The competition winners will be flown to Israel in March and will stay in the luxury ocean-front hotel suite, complete with the services of a private butlerby the "Brown Hotels" Urban Collection

 

Tel Aviv, February 21, 2017 - The City of Tel Aviv-Yafo, the Israel Tourism Ministry and the "Brown Hotels" Urban Collection, are launching the first project of its kind in the world. A lifeguard tower on Tel Aviv Beach ("Frishman”) will be transformed into a luxurious hotel suite, in which the guests will be winners of an international competition to be launched in partnership with    Hotels.com.

Details

Written by Steven Aiello

Published: 26 February 2017

 

 

 

A joyous evening of commerce, cooperation and diplomacy

 

The President of the Manufacturers’ Association of Israel meets with the new Turkish Ambassador to Israel to strengthen commercial ties between the two nations

 

The President of the Manufacturers Association, and Honorary Consul of Turkey, Shraga Barosh, held a reception on Wednesday evening, February 22, for the incoming Turkish Ambassador, Mustafa Kemal Okem, in the Association’s elegant lounge, in the company of senior business figures and leading manufacturers.

 

The goal of the meeting was to recalibrate and strengthen economic and business ties between Israel and Turkey, in light of their fully restored diplomacy relations, highlighted by the recent exchange of ambassadors.

 

The President of the Association, Mr. Shraga Barosh, gave his greetings and blessings to the Turkish Ambassadors, and expressed his hope that economic cooperation between the two countries, which has flourished through both difficult and prosperous periods, will continue to grow.

 

Mr. Barosh said: “The commercial relations with Turkey are very important to us. The trade potential and economic cooperation with Turkey has yet to reach its full potential, and there is no doubt that we can look forward to a strengthening, diversification and deepening of economic ties.”

 

Despite political difficulties between Israel and Turkey in recent years, the economic ties continued unabated. Israel and Turkey enjoy a free trade agreement, and over the last year, Israeli-Turkish trade exceeded 4 billion dollars.

 

In 2016, Israeli exports reached 1.26 billion dollars, a 25% drop from 2015 figures. Israeli exports primarily consisted of chemical products (75%), plastic and rubber (8%), and machines and electronics (6%).

 

Turkish exports to Israel reached 2.6 billion dollars, a rise of 6.5% from 2015. The Turkish products included primarily cars and transportation equipment (18.5%), metals (16%), and machines and electronics (13%).

 

Photo credit: Asaf Shiloh—Israel Sun

 

Steven Aiello is the founder and Director of the Debate for Peace MUN program

 

https://debateforpeace.wordpress.com/about/

 

 

 

 

 

 

 

 

Details

Written by Israel Diamond Exchange

Published: 15 February 2017

 

 

The IDE held a festive opening ceremony for the Sixth International Diamond Week in the trading hall which had been redesigned for the buyers.

 

IDE President Yoram Dvash: "The present is the only time to create our reality and that's what we are doing today."

 

The ceremony was attended by Tourism Minister Yariv Levin , IDE President Yoram Dvash, President of ALROSA, Andrei Zharkov, Israel Diamond Manufacturers Association President Kobi Korn, IDI Chairman Shmuel Schnitzer, DDCNY President Reuven Kaufman, CIBJO President Gaetano Cavalieri, senior members of the Israeli and foreign diamond trade.

 

In addition, there were 220 representatives from Israel and 388 buyers from 30 countries, including the US, China, Hong Kong, India, Italy, Turkey, Belgium.

 

Yariv Levin praised the organizers of the event as well as the buyers who had arrived from abroad. "The presence of so many foreign buyers is testament to the importance of the Israeli diamond trade despite the difficulties it is facing at the moment. Israel has a long tradition as a pioneer both in diamonds and in tourism."

 

He said that the Israeli diamantaires were ambassadors for Israel. He also told the foreign buyers to find the time to travel around Israel and take in its sights.

Yoram Dvash said: "I am delighted to see the trading hall today and all our friends from Israel and abroad and to open the Diamond Week. We are here to do the thing we do best: buying and selling diamonds. It's in our DNA. We hope that we will go from strength to strength."

 

Dvash also spoke of the improving business atmosphere following the signing of the tax agreement in December with the Tax Authority, the strong marketing initiatives that the bourse is carrying out and the Internet trading platform, James Allen and Get Diamonds.

In addition, he mentioned the factory for the cutting of large diamonds that the bourse created, the recently opened Sinova laser cutting center, and the International Tender Center that will be opened on Wednesday.

 

"The state of the international markets doesn't depend on us, but we are here to provide you with the biggest, most professional and best platforms in marketing, rough, trade shows, tenders and technology.

 

He also thanked all the guests from abroad, heads of delegations, senior partners in the Israeli diamond sector, Kobi Korn and Shmuel Schnitzer, the Chairman of the IDWI Organizing Committee, Chaim Volner, and Miki Kattan. "Colleagues, we can't change the past and can't forecast the future.

 

"The present is the time to create reality, and that is exactly what we are doing every day and today as well with the taking place of this Diamond Week. I would like to wish us all well."

 

ALROSA President Andrei Zharkov said: "I thank you all for the warm reception. I am very happy to be here with you. It's a great pleasure and responsibility to be here as CEO of ALROSA which will be holding tenders of rough and polished goods this week. We are looking forward to fruitful cooperation with our friends here. We feel at home here in Israel. I wish you all a successful week on behalf of ALROSA and myself."

 

Shmuel Schnitzer said: "The bourse is full of action today. I really hope that this Diamond Week and others like it will lead to increased activity in the trading hall and the new International Tenders Center. This is undoubtedly a welcome initiative and I wish all strength to the bourse president, Yoram Dvash, and the management team. This year looks promising and I wish us all great success."

Kobi Korn wished the participants success as did DDCNY Reuven Kaufman who said Israel was like home for him.

 

 

 

 

Heavy Traffic on Trading Floor on Day 2 at IDWI

 

Tender Center Opens, IDE Signs MOU with HKJMA, DPA CEO Presents Strategic Direction

 

Ramat Gan, Israel, February 14, 2017: The trading floor of the Israel Diamond Exchange (IDE) continued to see heavy traffic on the second day of the 6th International Diamond Week in Israel (IDWI). The mood was upbeat, reflecting a lively trading atmosphere.

 

Beyond the trading floor several events took place during the day. The IDE inaugurated its new state-of-the-art International Tender Center with a small ribbon-cutting ceremony, attended by Alrosa President Andrey Zharkov and local diamond leaders. IDE President Yoram Dvash said that the new tender center is intended to bring many additional rough and polished diamond tenders to Israel, avoiding the necessity of Israeli companies having to travel to participate in these sales.

 

Later in the day a Memorandum of Understanding was signed between the young generation forums of the Hong Kong Jewelry Manufacturers’ Association (HKJMA) and the IDE for cooperation and business promotion. IDE President Yoram Dvash cited the longstanding business cooperation between the diamond industries of Israel and Hong Kong. “We feel very close to you based on shared values. The young generation of both our countries have a great future. We can grow together,” he said. The MOU was signed by Dvash and by Kevin Ng, head of the Young Generation Forum of HKJMA.

 

Jean-Marc Lieberherr, CEO of the Diamond Producers’ Association (DPA) gave a presentation outlining the strategic direction of their generic diamond marketing program targeting Millennials and discussed plans for 2017. He invited members of the Israeli diamond industry to make use of the marketing materials produced by the DPA and to interact with him with suggestions and concerns. He also invited diamond industry organizations to partner with the DPA on joint programs.

 

 

 

The second day of IDWI concluded with a festive cocktail reception at the Leonardo City Tower Hotel for all participants.

 

NEW INTERNATIONAL TENDER CENTER INAUGURATED DURING INTERNATIONAL DIAMOND WEEK IN ISRAEL

 

In a festive ceremony  (February 14), the Israel Diamond Exchange (IDE) officially opened the new International Tender Center. The new facility is to consolidate under one roof as many polished and rough tenders as possible

 

http://www.en.isde.co.il

 

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Photos  by Silvia Golan 

 Photo 1 : Opening to Sixth International Diamond Week, IDE President Yoram Dvash

 

Photo 2 : The Russian crown in Israel , Price estimated  $20.000.000. Is a replica of the Great Imperial Crown of the Russian Empire, created by Russia’s leading diamond manufacturer Kristall in honor of its 250th anniversary,  exhibited at the sixth International Diamond Week in Israel
The crown, contains 11,352 polished diamonds, with a total weight of 1,180 carats. All of the polished diamonds are made from Alrosa rough.   

 

Photo 3 : IDE President Yoram Dvash , Shlomo Eshed ,President, Israel Precious Stones and Diamonds Exchange  & Eli Izhakoff one of the international diamond and jewelry industry’s most prominent leaders

 

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