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German car manufacturer Volkswagen has spent â‚¬90.4 million in Israel over the past five years, far exceeding the obligations it has in reciprocal purchase agreements with the country, the Ministry of Industry, Trade and Labor said Sunday. The company was obligated to buy â‚¬11.5m. worth of Israeli products during the period in return for business it received here, and grew its interests to having ties with 17 different Israeli companies.
In 2005 alone, Israeli sales to Volkswagen reached over â‚¬23m., the Ministry said, ranging from products the company needed for its regular manufacturing operations to new technologies used to improve its equipment.