Trade between the two countries totaled $450 million in 2005
Israel and Greece yesterday signed an agreement for industrial research and development, during President Moshe Katzav’s state visit. The agreement aims to provide Israeli companies with access to regional markets. The Ministry of Trade, Industry and Labor’s economic representative to Greece Michael Hori and Minister without Portfolio Tzahi Hanegbi, signed the agreement on behalf of Israel with Greek Development Minister Dimitris Siofas signing on behalf of Greece.
Trade between Israel and Greece in 2005 totaled $450 million, of which $200 million was generated by exports and $250 million was accounted for by imports. This volume reflects the growth in trade between the two countries, which in recent years has increased by an average yearly rate of 12%, including a sharp rise in Israeli exports to Greece in 2004, ahead of the Olympic games in Athens.
Published by Globes [online], Israel business news - www.globes.co.il - on February 16, 2006