Direct exports to Arab countries continue to grow. Exports to Jordan, Egypt, Tunisia, and Morocco were 45% higher in the first quarter of 2008 compared with the corresponding quarter of 2007, the Israel Export and International Cooperation Institute reports. It estimates the potential of exports to Arab and Muslim countries which with Israel has no current trade relations at $1 billion. Obviously, realizing this potential is contingent on the regional political situation.
Jordan is now Israel's primary Arab trading partner, after an 85% increase in exports last year. The Export Institute reports that exports to Jordan totaled $102 million in the first quarter, 62% more than in the corresponding quarter. Most exports were metals, jewelry, processed wood products, textiles, and plastics. 1,050 companies exported goods to Jordan at the end of 2007, 8% more than a year earlier. This is the largest number of companies exporting to an Arab country.
Exports to Egypt totaled $140 million in 2007, 10% more in 2006. Exports totaled $40 million in the first quarter, 25% more than in the corresponding quarter. 329 companies exported goods to Egypt last year.
Exports to Morocco totaled $3 million in the first quarter and exports to Tunisia totaled $1.8 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 28, 2008
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