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EU-Israel Business Dialogue to boost bilateral business & investment

24
Mar '08

EC Vice President Verheugen: “There is a huge economic potential that is not yet fully exploited.”

Commission Vice President Verheugen with Minister of Industry, Trade and Labour Yishai at the launch of the EU-Israel Business Dialogue

The EU-Israel Business Dialogue was launched on November 1 by Vice President of the European Commission responsible for Enterprise and Industry Genter Verheugen and Israel's Minister of Industry, Trade and Labour, Eliyahu Yishai.

The founding members of the EU-Israel Dialogue, a powerful group of some twenty business leaders from Israel and Europe, held the launching session in the margins of the Israel Prime Minister's Conference for Export and International Cooperation.

The launch of the EU-Israel Business Dialogue fulfils an important clause in the European Neighbourhood Policy EU-Israel Action Plan.

The goal of the dialogue, which follows the format of similar 'business-to business' dialogues between the EU and Russia, Japan, the United States and India, is to strengthen EU-Israel economic relations, remove barriers to trade and investment and enhance cooperation and joint ventures.

Speaking on the eve of his visit to Israel, Vice-President Verheugen said: “This Dialogue shall encourage European companies to do more business with Israel and to invest more in Israel. There is a huge economic potential that is not yet fully exploited.”

At the founding meeting itself, Commissioner Verheugen added: “The EU is Israel's major trading partner but if we look at the investment figures there is room for improvement on the European side.

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