Shraga Brosh, Chairman of the Israel Export and International Cooperation Institute, said last week that the number of Israeli companies using Cyprus as a bridge for international business increased by 2.5% compared to last year.
He noted that Cyprus’s geographic location between Europe and Asia gave it an advantage as a bridge between the two highly important continents.
Cyprus, according to Brosh, also provides benefits from its membership in the European Union, and from good business infrastructure, including shipping & banking
Brosh noted that out of a total of 14,000 non-Cypriot companies currently operate in Cyprus, 720 are Israeli companies .
Brosh predicted that within the framework of the bilateral relations, Israeli exports to Cyprus would grow by 5-7% in 2005, to $385 million, despite a 6% drop in the first quarter.
Brosh noted that Israeli exports to Cyprus grew in 2004 by almost 80% to $365 million.
Brosh: Cyprus an important bridge for business
Shraga Brosh, Chairman of the Israel Export and International Cooperation Institute said last week that the number of Israeli companies using Cyprus as a bridge for international business increased by 2.5% compared to last year
25.04.05 / 00:00
•
More articles that may interest you
20 Israeli companies in "Red Herring" 100 most promising enterprizes
March 2005 - Trade gap up 8.9%
Japan to expand economic ties with Israel
Haifa port introduces new IT services
Eitan Rub nominated heads of division of the Israel Tax Authority
2004 - Transportation infrastructure investment down 14%
More news from Industry & Trade Section
>Israel's Foreign Exchange Activity in March 2005/18.04.05
>Israeli exports to Jordan in 2004 up 55%/11.04.05
>Polished diamond exports up 14% in March 2005/11.04.05
>Bank of Israel forecasts: economy growing 4% in 2005/11.04.05
>Fuel imports up 29% in January - March/11.04.05
>Finance Ministry: 2006 growth could reach 5%/11.04.05
>Export Institute to boost wine exports to Europe/03.04.05
>2004 - Smaller Businesses increased Exports by 15%/03.04.05
>French Customs punish Israeli exporters despite agreement/03.04.05
>High-tech exports down 6.7%/03.04.05