On 27 April 2017, Economic Affairs Minister Brigitte Zypries met with ambassador Yakov Hadas-Handelsman. Talks centred on how to strengthen German-Israeli economic relations.
Said Minister Zypries: "Germany and Israel have long been strong partners to each other, not just in the economic sphere. I am delighted that German and Israeli companies are increasingly engaging in strong cooperation, particularly those creating high-tech products and services. This is notably the case with young startups working in cyber security, big data analysis and mobility. We support the of lasting German-Israeli startup networks, not least through our German-Israeli Startup Echange Program."
Germany is Israel's number-one trading economic partner in the European Union. Last year, the two countries' bilateral trade volume totalled €5.8 billion. There are some 350 Israeli companies providing close to 8,000 jobs in Germany.
In 2015, Israel became Germany's first partnering country under the EXIST Start-up Germany programme, which had hitherto been a national initiative providing funding for startups in Germany. Now, Israeli startup entrepreneurs can also use the programme and gain access to funding in Germany.