Exports to Mexico up by 30% and to Brazil by 28%
Israel's total export to Latin American countries, during first half of 2004, was up by 8% to US$ 580m. Imports, during same period, totalled US$ 311m - an increase of 53% compared to same period last year.
Despite the increase of the bilateral trade with Latin American countries, the relative share of this trade within the overall Israeli trade, has gone down to 3.6% compared with 3.9% last year.
The foreign trade department at the Ministry of Trade & Industry, which presented the figures, pointed out that the increase of industrial export to Mexico, which had been defined as an export target country, is highly impressive and that the upword trend will undoubtedly continue mainly due to the Israel-Mexico free trade agreement.
The Ministry also pointed out at Brazil, which imported US$173 worth of Israeli goods in the first half (an increase of 28%), as being a highly attractive export market.
Spokesman for the ministry emphasized that Brazil is not only an important market with huge potential to the Israeli export industries but also is a member of the mercosur free trade agreement (together with Argentina, Uruguay & Paraguay).
Israel is, at present, trying to increase its penetration into the mercosur trade block. The Ministry is also hoping to begin negotiating a bilateral free trade agreement with the mercosur trade block.
