'Israel businessmen to invest in Uruguayan textile sector'

12 Nov '13

2 min read

As a result of a recent trade mission of Uruguayan entrepreneurs to Israel, initiated by the Uruguayan Government and the Chamber of Information Technology (CUTI), entrepreneurs from the country have shown keen interest for investing in the Uruguayan textile sector, said Minister of Industry, Energy and Mining, Roberto Kreimerman.

According to a statement issued by the Uruguayan Ministry of Industry, Energy and Mining, Mr. Kreimerman said the tour was initiated to generate concrete investment projects and for Uruguayan entrepreneurs to analyze various sectors in Israel, including textiles.

As a result of the tour, many Israeli industrialists have shown interest for possible investments in Uruguay and have suggested setting up joint ventures for initiating various new projects in different sectors of the Uruguay, including textiles, he added.

The Minister informed that as of now, Uruguay exports US$ 170 million of goods to Israel annually, which include textile and apparel goods, and these investments would result in the increase of exports from the country to Israel in the coming years.

The business delegation from Uruguay visited various business and industrial centers in Israel as well as textile plants during the tour, in order to analyze and understand the process of manufacturing undertaken by entrepreneurs in the country.

Fibre2fashion News Desk - India

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