FOREIGN AFFAIRS

Israel shifts focus to emerging markets

israel.jpg

The Israeli Ministry of Economy is opening trade attaché offices in Asia, Africa, and South America with a class of 12 new cadets starting a course this week with a focus on the markets of Africa, China, and India.

Albawaba Business news reported Foreign Trade Administration director Ohad Cohen as saying they were re-focusing on emerging markets and that over the past five years, Israel had been expanding trade attaché offices in Asia and Africa at the expense of its presence in Europe. He said this trend would continue in the coming years in line with the change in Israel's balance of trade.

Israel’s business daily, Globes, interviewed Cohen who reportedly noted that by 2060 exports to India and China would account for at least 46% of global GDP.
The Algemeiner.com reported that while Europe remained Israel’s largest trading partner, it had closed trade attaché offices in Austria, Hungary, Finland and Sweden, and used the resources for growth, opening new offices in Colombia, South Africa and Kenya. Chile and Nigeria will be added to the list soon.

FTW

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