Minister of Industry Trade and Labor Ehud Olmert has proposed to Brazil President Luiz Inacio Lula da Silva (Lula) and Minister of Development, Industry and Trade Luiz Fernando Forlan the establishment of a binational R&D fund for telecommunications, biotechnology, nanotechnology, energy, and agrotechnology. Olmert is visiting Brazil and Argentina at the head of delegation of businesspeople and exporters,
Olmert's most important mission on the visit is to make progress in negotiations for a regional free trade agreement between Israel and the Mercosur (Mercado Comun del Sur) bloc (Brazil, Argentina, Uruguay, and Paraguay). He raised the subject of a binational R&D fund during talks with Lula da Silva in Brasilia on Monday.
Lula da Silva replied that Brazil was very interested in such an agreement, and that his government was politically and financially committed not to raise obstacles in negotiations.
Olmert also met Brazilian Minister of Agriculture Roberto Rodrigues. Olmert displayed products of Netafim, which are likely to help President Lula da Silva's Zero Hunger plan for rural areas. Olmert said a World Bank program would market Netafim's irrigation systems to Asian tsunami victims.
Olmert also met Brazilian Minister of Mines and Energy Dilma Rousseff, who expressed interest in collaboration with Ormat Industries (TASE: ORMT) in the field of alternative energy, particularly generating electricity from waste heat.
Next week, President Moshe Katsav will visit Australia at the head of an 18-member business delegation organized by the Israel Export and International Cooperation Institute, and the Australia-Israel Chamber of Commerce. The Australia-Israel Chamber of Commerce said over 150 meetings have been scheduled to take place during the visit.
Published by Globes [online], Israel business news - www.globes.co.il - on March 9, 2005