Next, Free Trade Area and More Between Brazil and Israel

The interim vice-Premier of Israel and the Israeli Minister of Industry, Commerce, and Labor, Ehud Olmert, visited the Federation of Industry of the State of São Paulo, Brazil, (Fiesp) March 10 for a meeting with entrepreneurs.

Accompanied by 20 representatives of Israeli companies, Olmert came to discuss a proposal for a free trade agreement between Israel and the Mercosur, the trade bloc formed by Brazil, Argentina, Paraguay, and Uruguay.


Besides the formation of a free trade area, the other questions broached at the encounter were the advantages and potentialities of Israeli industry, that country’s current positive economic situation, cooperation between the Fiesp and the Israeli Industrial Association, and exchanges among entrepreneurs from both countries.


The trade balance between the two countries totaled US$ 683 million in 2004. Brazil exported US$ 206 million, 60% more than in 2003, while it imported US$ 477 million, 31% more than in the previous year.


In referring to a possible partnership between the Mercosur and Israel, Olmert observed that “Israel is the biggest buyer of European products in the Middle East.


“With its 6.5 million inhabitants, with an annual per capita income of US$ 18 thousand, compared to the US$ 1 thousand annual per capita income of the inhabitants of Arab countries, the Israelis’ purchasing power is very great, and this makes Israel a good business partner.”


Olmert said that he was pleased about his visit to Brazil and classified it as fruitful. He also commended President Lula for supporting the creation of a free trade area between Israel and the Mercosur.


When asked about the prospects for a partnership, Olmert affirmed emphatically that “there is an enormous potential for cooperation in specific areas, such as biotechnology, telecommunications, agribusiness, fertilizers, nanotechnology, and informatics. There are very solid foundations for this to develop.”


Olmert proposed to President Lula “the creation of a binational fund for research and development, similar to the funds that Israel already maintains with 12 other countries.”


Translation: David Silberstein
Agência Brasil

Tags:

Ads

You May Also Like

Brazil to Ban Glamour and Sex in Drinking Ads

The Brazilian federal government intends to be tougher with rules on advertising for alcoholic ...

Brazil Downplays Disputes with Argentina

The trade disputes between Brazil and Argentina won’t harm the Mercosur negotiations at the ...

Requiem for a Bubble

Globo Group and the Folha Group, two giants of the media, who had wrangled ...

Brazil and Argentina Vow Strong Trade Links, But Keep Fighting over Licenses

The governments of Brazil and Argentina are discussing the possibility of reducing the number ...

Brazil Wants US Out of Discussions on Venezuelan-Colombian Dispute

Nestor Kirchner, Argentina’s former president and UNASUR’s (Union of South American Nations) will hold ...

Brazilian Presidential Candidates Can’t See Eye to Eye on Mercosur’s Usefulness

Dilma Rousseff, the Brazilian presidential candidate handpicked by president Luiz Inácio Lula da Silva ...

At Brazil’s Government Pharmacy Condoms Are 85% Off

The list of pharmaceutical products sold through the Ministry of Health’s Community Pharmacy program ...

Rio, Brazil, Finds Key to Sell Fashion Overseas: Invention

One of the dresses is all printed. From afar, the white and black print ...

Machinery Exports Grow 7% in Brazil, But Trade Balance Is Negative

In Brazil, foreign sales correspond to 40% of the machinery and equipment sector’s revenues, ...

Marcos Marcondez, 31, the piano teacher

Death Pact? Girl, 13, and Piano Teacher Found Dead in Brazil’s Motel Bed

Death pact is one of the hypotheses being raised by the Brazilian police, which ...