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Exports to Africa leaped by 250% during last decade

Israel Export and International Cooperation Institute noted that exporting to African countries constitute only 2.6% of Israel's total exports
08.03.13 / 00:00
Exports to Africa leaped by 250% during last decade
08.03.13
Exports to Africa leaped by 250% during last decade

Israel Export and International Cooperation Institute (IEICI) reported that exports to the African continent leaped by 250%, during the last decade, totaling US$1.2 billion in 2012.

The IEICI noted that exporting to African countries constitute only 2.6% of Israel's total exports. The export figures were published during an "Africa calls you" conference held by Israel Export and International Cooperation Institute in co-operation with Israel's Ministry of Foreign Affairs, Industry, Trade and Labor Ministry and Israel-Africa Chamber of Commerce aiming at uncovering business opportunities as well as trade barriers in African states.

Ofer Zaks, CEO of the Israel Export Institute, a division ofthe Ministry of Industry, Trade and Labor that helps Israeli companies break into markets overseas noted that Africa is one of the fastest growing continents in the world hence cannot be ignored by the Israeli exporting community.

Shauli Katzanelson, Deputy Director General, Israel Export Institute reiterated that Sub-Saharan Africa’s abundance of mineral resources and oil helped the continent weather the world’s economic downturn relatively well he added that Sub-Saharan Africa is home to six of the 10 fastest-growing markets in the world.

Economic growth in this region is predicted to be strong–between 5 and 6 percent–in coming years. And–most important–millions of Africans are finding a path from poverty to greater security, opportunity, and prosperity.

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