Manufacturers Association: If the crisis continues, it will have a direct impact on jobs.
The Manufacturers Association of Israel will hold an emergency meeting on Wednesday to discuss the strengthening shekel. Scores of manufacturers and exports nationwide are due to attend, and Minister of Industry, Trade and Labor Shalom Simhon has been invited.
The meeting is entitled "Without exports, there is no growth and no jobs". Company executives will call on the government and Minister of Finance Yuval Steinitz to institute measures to stop the appreciation of the shekel.
The Manufacturers Association says that the shekel has appreciated 17% against the dollar in the past two years, resulting in fewer shekels from every dollar earned overseas, and affecting the competitiveness of Israeli manufactures in the world. The Manufacturers Association warns that if the crisis continues, it will cause a severe blow to industry and have a direct impact on jobs.
Published by Globes [online], Israel business news - www.globes-online.com - on May 1, 2011
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