45% growth in exports from Israel to Arab countries
Posted on May 28, 2008
Filed Under Economy, Israel, Israeli-Muslim Conflict, Media, Middle East, Multiculturalism, News
Politics aside, business is business, and apart from assisting the “Palestinian brothers” in their “struggle for independence”, some Arab countries realize that it is their own interest they ought to look after
According to Israeli Export Institute, the first quarter of 2008 showed 45% increase in direct exports from Israel to Arab countries, reaching $145 Million. In 2007 the exports topped approximately $410 Million, which is 48% more than the previous year.
Jordan is a main trade partner of Israel in the Arab world, and in the last year exports from Israel to Jordan are up by 85%. The first quarter of 2008 shows growth of 40% of total exports in 2007, reaching $102 Million, which is 62% more than the same quarter last year.
The lowest growth of Israeli exports was to Egypt – the country that maintains more of a state of non-war than peace with Israel. The increase was only 10% - $140 Million in 2007, and the first quarter shows the increase of 25% - $40 Million – compared to the same quarter last year.
Interesting figures come from Morocco– the North African nation Israel does not have a full diplomatic relations with – who maintains trade ties (just like Qatar and Tunisia do) with the Jewish state (bilateral visitations are also allowed).
Although he actual numbers still remain small - $16.4 Million in 2007, 43% increase compared to 2006 - since 2003 (the midst of Palestinian intifada) there’s been a growth of 150% in exports from Israel to Morocco.
Israeli exports to Tunisia reached only $1.8 Million.
What must be noted when it comes to Israeli trade with Morocco and Tunisia is that these countries often cooperate through the third parties – mainly French and Spanish companies co-owned by the Israeli and North African entrepreneurs – the results of this cooperation are not indicated in the official numbers released by Israeli Export Institute, which presented only the direct exports.
The stats don’t show is the trade between Israel and Gulf states, and it is due to the fact that this trade exists through the third parties, just like in case of Israel’s trade relations with Morocco and Tunisia.
The main exports were agricultural equipment, plastics, chemicals, wood products, computer chips, print circuits and jewelry
The overall potential of exports to the Muslim countries Israel doesn’t not have a diplomatic relations with is estimated $1 Billion per annum. Obviously, the ability to tap this potential very much depends on the political trends in the region; however, this does not prevent Israel from having low-level trade relations with some of these countries, the relations that are probably the most well-known secret in the Middle East.
