Israel looks to UK to boost economic growth

Israeli exports to Britain grew 14.5% to $1.43 billion in 2005, while imports of British products rose 5.7% to $1.57b.

May 17, 2006 07:47
uk deleg 88 298

uk deleg 88 298. (photo credit: Courtesy LSE)

Just as the country recorded its strongest quarterly economic growth in nearly six years, an Israeli business delegation to the UK was looking for partnerships with British companies as a means of continuing the momentum. "Economic cooperation with Britain will help to intensify the growth momentum in the Israeli economy," Benny Gaon, chief executive officer of Gaon Holdings said at a meeting of the Israel-British Business Council during the visit. "There is great importance in maintaining Britain's economic activity with Israel and to reflect on long-term programs such as the three way agreement signed last year to strengthen business ties between Israel, Britain and Jordan." During the 12-man delegation's visit this week, Manufacturers Association of Israel President, and head of the delegation, Shraga Brosh is scheduled to meet with British Finance Minister Gordon Brown with the aim of strengthening economic cooperation between the two countries, the IMA said. Israeli exports to Britain grew 14.5 percent to $1.43 billion in 2005, while imports of British products rose 5.7% to $1.57b. Delta Galil CEO Dov Lautman, who is part of the delegation, said there was a particular need to strengthen partnerships between the two countries in the development of security and defense products industry.

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