Israel and Greece signed last week an agreement for industrial research and development
The agreement which was signed during President Moshe Katzav’s state visit to Greece, aims to provide Israeli companies with access to regional markets.
Minister without Portfolio Tzahi Hanegbi, signed the agreement on behalf of Israel and Greek Development Minister, Dimitris Siofas signed on behalf of Greece.
Israeli economic representative to Greece Michael Hori said after the signing ceremony that the agreement brings to an end a long negotiation process between Dr. Eli Offer, chief scientist of the Ministry of Trade and Greece Development Ministery.
Hori added that in 2005 bilateral trade between Israel and Greece totaled $450 million, of which $200 million was accounted for by exports and $250 million was accounted for by imports.
Hori noted that this volume reflects the growth in trade between the two countries, which in recent years has increased by an average annual rate of 12%