The Israel-Canada Chamber of Commerce & Industry

Message from the President of Israel-Canada Chamber of Commerce & Industry

Dear Friends,

As President of the Israel-Canada Chamber of Commerce & Industry, it gives me great pleasure to greet you.

I note with great satisfaction that we continue to witness the positive results of the Canada-Israel Free trade Agreement (CIFTA). Since CIFTA came into effect on January 1, 1997, Israel's trade balance with Canada has more than tripled, not including the indirect movement of Israeli products into Canada via the U.S. These figures confirm CIFTA's growing benefits to the trade of both Israel and Canada.

Yet, additional confirmation is to be found in the constantly growing interest of Canadian enterprises in Israel, many of which are actively participating, in different projects and tenders in Israel. Recent notable examples include:

Potash Corp. of Saskatchewan is a substantial shareholder of Israel chemical, a major supplier of chemicals and fertilizer.
The Canadian Highways Investment Corporation - a leading participant in the consortium granted a concession for Israel's largest infrastructure project - the Cross Israel Highway - of which construction is well underway, and its first phase has already been completed and opened.
Bombardier - a leading participant was one of five consortia bidding for the concession of the Jerusalem Light Rail Transport Project. We hope Bombardier shall also play a role in the tender for the Tel Aviv Light Rail Transport Project, which is expected to be issued shortly.
SNC Lavalin is also involved in infrastructure tenders in Israel.
Teva Pharmaceuticals, an Israeli company which is one of the largest pharmaceutical companies in the world, recently acquired Nova Pharm of Canada in a transaction valued well over $300 million.

Israeli conglomerates have also discovered Canada, some notable examples being Gazit Globe which has become one of the largest commercial real estate owners in Canada, Skyline, the Fishman Group, and several subsidiaries of Delek Investments. These corporations, as well as other Israeli companies, have recently acquired sizable real estate interests in Canada, and Israeli investors are looking more and more to Canadian based investments.

The Israel-Canada Chamber of Commerce & Industry makes every effort to be involved in Israeli-Canadian ventures and to assist them as best as it can. We shall be delighted to provide any kind of support and assistance in this context, be it by "opening doors", addressing all types of political, governmental and business difficulties with the highest ranking officials or identifying potential business contacts or partners.

It is my hope that those of you who consider businesses that may have to do with North America and Israel will take advantage of the tremendous opportunities available in both Canada and Israel and reap the benefits therefrom. This would serve as the best advertisement for the rewards that can be achieved by exploring the great potential which the Canadian and Israeli markets have for one another.

Sincerely yours,

Alan Baker
President Israel-Canada
Chamber of Commerce & Industry

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