2nd Israeli-German Intergovernmental Consultations: Federal Minister Rainer Brüderle received the Israeli Ministers of Industry, Trade and Labour and of National Infrastructure in the Economics Ministry

On the occasion of the 2nd Israeli-German Intergovernmental Consultations, Rainer Brüderle, Federal Minister of Economics and Technology, received Benjamin (Fouad) Ben Eliezer, Minister of Industry, Trade and Labour, and Dr. Uzi Landau, Minister of National Infrastructure, for an exchange of views in the Federal Ministry of Economics and Technology.

In an hour-long meeting, the ministers discussed the state of Israeli-German economic relations and possibilities for further expansion. Federal Minister Brüderle stated: "There has been a clear intensification of Israeli-German economic relations since the first intergovernmental consultations in March 2008. In particular, the outstanding co-operation between Germany Trade and Invest and the Israeli-German Chamber of Industry and Commerce has resulted in Israeli investors showing much greater interest in Germany."

There have also been developments in the other direction: for example, Siemens acquired the Israeli solar technology company Solel Solar Systems for approx. USD 418 m in early 2009.

The ministers agreed that increased co-operation between SMEs from the two countries is the key to a further intensification of economic relations.

Federal Minister Brüderle stated: "In order to expand co-operation between our companies, I welcome and support the desire of the Israeli Government and commerce to hold an "Israel Innovation Day" in Germany in 2010. Israel is one of the leading countries in the high-tech field and offers a variety of opportunities for close co-operation."

The "Israel Innovation Day" later this year is intended to give Israeli SMEs in particular the opportunity to present their technological skills and innovative capacities to the German business community. The ministers also agreed to work towards closer co-operation between German and Israeli firms on industrial and application-oriented research and development. To this end, use should particularly be made of existing programmes like the Central SME Innovation Programme (ZIM).

The ministers underlined their intention to raise the profile of bilateral co-operation in the fields of renewable energy and energy efficiency by identifying a suitable beacon project. At the end of their meeting, the ministers signed two key documents setting out further specific steps towards the expansion of bilateral economic relations.

In 2008, Israeli-German trade in goods amounted to approx. € 4.3 bn, with German exports accounting for approx. € 2.72 bn of this. The leading German exports were chemical products, machinery and vehicles. In the case of imports from Israel (totalling € 1.54 bn), the focus was on chemical and electrical engineering products, as well as precision mechanics and optical goods. The stock of investment by German firms in Israel stood at € 93 m in 2007, and that of Israeli companies in Germany at € 808 m.