A steering committee headed by Ministry of Industry, Trade and Labor director general Raanan Dinur and Accountant General Dr. Yaron Zalika decided last week to recommend that the government would insure export transactions to African countries against political risk.
The recommendation was hailed as a change in Israel’s long time policy on exports to African countries.
Sources at the foreign trade administration Ministry of Industry, Trade and Labor said that Kenya and Uganda would be the first two countries to benefit from the newly agreed export policy. The sources added that the insurance program against political risk for African countries will not be comprehensive. They added that upon request each export transaction will be considered on its merits.
At present only a few export transactions, to Uganda & Kenya are involved, worth a few tens of millions of dollars.
