Minister Pereira and Israeli Minister of Economy and Industry Eli Cohen Renew Program of Joint R&D Cooperation and are Calling on Israeli and Brazilian Companies to Submit Funding Requests for Joint Projects. Trade Between Israel and Brazil Reached $1.12 Billion in 2016. Over the First 5 Months of 2017, Israel Exported Goods Worth $288 Million to Brazil – a 31% Rise Compared to the Same Period Last Year.
Jerusalem, July 5th, 2017 – The Israeli Minister of Economy and Industry, Eli Cohen, met last week with Marcos Pereira, the Minister of Industry, Trade and Services of Brazil, the world’s seventh largest economy.
The ministers spoke about advancing projects, initiatives and economic cooperation between the two countries, and announced a new call for proposals as part of the program for cooperation in industrial R&D, in which Israeli and Brazilian companies can submit proposals for funding for joint R&D projects.
Pereira arrived in Israel with a delegation of 15 senior government officials on his first official visit to Israel. His visit in Israel follows a visit by the Brazilian Minister of Health two months ago.
The visit by minister Pereira and his delegation was organized by the Israeli trade mission in Rio de Janeiro of the Foreign Trade Administration in the Israeli Ministry of Economy and Industry
The Foreign Trade Administration’s network of global trade representatives assist Israeli companies develop their business in international markets by removing obstacles and creating business opportunities and connections with potential partners in global markets.
Following the meeting, Israeli Minister of Economy and Industry Eli Cohen said, “Markets in Latin America and Brazil tend to be particularly challenging for Israeli companies, but have high potential for cooperation. The Israel-MERCOSUL Free Trade Area Agreement positions Israel as the only non-Latin American country which benefits from preferential access to the Brazilian market. This is an important instrument for Israeli companies, along with the desire of both countries to bolster cooperation.”
Following the Israeli government’s decision from 2014, intended to promote and expand economic ties between Israel and Latin America, the Israeli Ministry of Economy and Industry has been investing significant efforts helping Israeli companies penetrate this market. New Israeli trade missions were established in Bogota, Rio de Janeiro, Lima and Santiago.
Over the past three months, dozens of Israeli companies have participated with great success in national pavilions at local conferences in Brazil in a variety of fields. Among the industries representing great opportunities for Israeli companies: Renewable Energy, Oil & Gas solutions, water technology, agriculture, education and more.
Trade between Israel and Brazil reached $1.12 billion in 2012, of which Israel exported goods worth $686 million and imported goods worth $425 million. From January to May 2017, Israel exported goods worth $288 million to Brazil, a 31% rise compared to the same period last year (according to the Brazilian Ministry of Industry, Trade and Services.) Export of services from Israel to Brazil has been continuously rising over the past few years. According to data from the Israel Central Bureau of Statistics, Israel exported $154 million to Brazil in 2015.