David Arzi, chairman Israel Export and International Cooperation Institute said last week at the Prime Minister’s Conference for Export and International Cooperation that “Bilateral trade between Israel and Muslim countries that have no formal ties with Israel, amounts to hundreds of millions of dollars annually”.
According to Arzi the increase in trade was largely due to exports of software and components to production facilities of multinational companies located in Muslim countries.
Arzi emphasized that until recently during the high days of the Arab boycott, such trade was impossible, certainly not at the current level.
Shraga Brosh president of the Manufacturers Association added that the peace process with the Palestinians and Arab neighboring countries opened unique opportunities that businessmen should exploit in order to improve and promote the economies of all the nations in the region.”
