Exports to Latin America to grow 3%

Industrial exports to Latin American are expected to grow 3% by the end of 2006 to about $1.4 billion, despite standing still in the first half of the year, the Israel Export Institute said Tuesday.

Industrial exports to Latin American (excluding diamonds) are expected to grow 3% by the end of 2006 to about $1.4 billion, despite standing still in the first half of the year, the Israel Export Institute said Tuesday. With the anticipated signing of a free trade agreement with Mercosur (Mercado Com n del Sur) - the common market of Brazil, Argentina, Uruguay, Paraguay and most recently Venezuela - exports to the region are expected to grow 40% in 2007-2010, the institute said. In the first half of 2006, industrial exports to Latin America came to about $600 million, the same amount as the first half of 2005.