ME signs agreements to facilitate trade and investment with Israel

Signed during a visit of a Maltese business delegation to Tel Aviv organized by Malta Enterprise, the agreements with the Federation of Israeli Chambers of Commerce (FICC), the Manufacturers Association of Israel (MAI), and the Israel Export and International Cooperation Institute (IEICI) seek to encourage and facilitate activities leading to the development of economic cooperation and the promotion of commercial exchanges between companies and enterprises of the two countries.

Amongst others, initiatives would include the organization of business delegations and other networking events, the exchange of information on opportunities and trends to facilitate increased cooperation, sharing of facilities and resources, as well as the identification of specific opportunities with a view to enhancing investment and trade prospects between Israel and Malta.

Malta Enterprise also had meetings with MATIMOP, the executive agency of the Office of the Chief Scientist (OCS) of the Ministry of Industry, Trade and Labour of Israel. The agency implements international cooperative industrial R&D programs between Israeli and foreign enterprises.

Malta Enterprise also had meetings with other institutions relating to SMEs and visited a number of technology incubators.

The business delegation to Israel comprised 21 local companies operating in a wide range of sectors, including financial and professional services, renewable energies, ICT, manufacturing, education, travel and tourism, as well as shipping and logistics.

The Maltese companies had the opportunity to hold an average ofseveral quality one-to-one meetings each with their Israeli counterparts with a view to exploring potential business cooperation with Israeli companies such as trade, joint ventures and technology commercialisation. Malta Enterprise also organised a business forum during which over 50 Israeli companies had the opportunity to familiarize themselves with Malta's attractiveness as a trade and investment location and its business-friendly environment.

The forum was addressed by Minister for Fair Competition, Small Business and Consumers Jason Azzopardi and Malta's Ambassador in Israel Abraham Borg, while Malta Enterprise Executive Chairman Alan Camilleri delivered a presentation with which he highlighted what Malta has to offer to Israeli companies, particularly as a gateway to nearby markets in Europe and North Africa.

These were followed by a testimonial from CredoRax, an Israeli company providing online payment processing and acquiring bank services to a diverse range of online merchants worldwide and which operates successfully in Malta.

In addition, while in Tel Aviv, Malta Enterprise also had a number of fruitful meetings with Israeli companies which are seriously considering expanding their operations in Malta.

The Malta Chamber of Commerce, Enterprise and Industry, which was among the organisations supporting the delegation, also signed an MOU with the Federation of Israeli Chambers.