ECONOMIC HIGHLIGHTSECONOMIC HIGHLIGHTS22ndnd QUARTER 2008 QUARTER 2008

STATE OF ISRAELSTATE OF ISRAELMINISTRY OF FINANCEMINISTRY OF FINANCE

INTERNATIONAL AFFAIRS DEPARTMENTINTERNATIONAL AFFAIRS DEPARTMENT

July 2008July 2008 International Affairs DepartmentInternational Affairs Department

ContentsContents

Note:

You can return to the beginning of each chapter by clicking these symbols on the top of each slide.

Economic FiguresEconomic Figures

BalancesBalances

International ComparisonsInternational Comparisons

Israel and the OECDIsrael and the OECD

International TreatiesInternational Treaties

Relevant SitesRelevant Sites

Main CharacteristicsMain Characteristics

Israel celebrating 60Israel celebrating 60

Israel’s Economy:Israel’s Economy:

• Highly Educated Population.Highly Educated Population.

• Rapid Development of Technology & Rapid Development of Technology &

High-Tech Industries.High-Tech Industries.

• Entrepreneurial Culture. Entrepreneurial Culture.

• Open Economy.Open Economy.

• High Trade intensity.High Trade intensity.

Main CharacteristicsMain Characteristics

Israel Celebrating 60

GDP Per Capita

Tourist Arrivals and Departures of Israelis abroad

Public Debt

Students in Higher Education Institution

Investment in the total knowledge: Higher Education, Software and R&D

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Population of Israel5

6

7

8

9

10

Population of Israel*

1949 - 2007

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

Israel’s Current Population: 7,282,000Israel’s Current Population: 7,282,000

5

*End of Year.

Source: Central Bureau of Statistics, Ministry of Finance

GDP Per Capita* 1950 -2007

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005

NIS

GDP Business GDP

The resources available to Israel in 2007 - from local production The resources available to Israel in 2007 - from local production and imports – are 38 times greater than they were in 1950and imports – are 38 times greater than they were in 1950..

*(Constant Prices of 2005)

Source: Central Bureau of Statistics 6

Public Debt (% of GDP) 1950 - 2007

Source: Central Bureau of Statistics

0

50

100

150

200

250

300

Since 1984, The Public Debt has shown a downward trendSince 1984, The Public Debt has shown a downward trend

7

Tourist Arrivals and Departures of Israelis abroad (1950 – 2007)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005

Th

ou

sa

nd

s

Tourists

Israelis

During the 1950’s, an annual average of 47,000 visitors entered During the 1950’s, an annual average of 47,000 visitors entered IsraelIsrael..

1.51.5 Million tourist entries have been registered Million tourist entries have been registered in the first half of 2008in the first half of 2008..

Source: Central Bureau of Statistics 8

Students in Higher Education Institutions (1948 /49 – 2007 /08)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

Bachelor's Degree (Universities) Master's degree (Universities) P.H.D (Universities)

Bachelor's Degree (Colleges) Master's Degree (Colleges)

In 1948, 208 students received an academic degree in Israel. In 1948, 208 students received an academic degree in Israel. In 2006 – almost 53,000In 2006 – almost 53,000..

Source: Central Bureau of Statistics9

Investment in total knowledge: Higher Education, Software and R&D (% of GDP, 2002)

0.6

1.1

1.1

1.0

2.1

2.1

2.3

1.9

2.2

1.5

2.5

1.6

2.0

3.1

2.5

2.5

2.5

3.4

2.7

4.1

4.8

0.7

0.8

0.8

0.9

0.8

1.1

0.7

1.4

0.7

1.4

1.1

1.3

1.3

1.6

1.4

1.5

1.8

1.8

0.8

0.6

1.0

0.9

0.7

0.6

0.7

0.9

0.8

0.7

1.1

1.7

0.7

1.4

1.3

1.9

1.1

2.2

0.9

1.2

1.9

2.3

2.3

2.7

3.4

3.7

3.7

3.7

3.8

3.8

3.9

4.1

4.8

5.1

5.2

5.4

5.8

6.0

6.7

6.8

7.11.1

0 1 2 3 4 5 6 7 8

Greece

Italy

Ireland

Spain

Austria

EU (average)

France

Britain

Belgium

Norway

Germany

Australia

Canada

Japan

OECD (average)

Denmark

Korea

Finland

U.S.A

Sweden

Israel

R&D

Software

Higher Education

Israel is the world Israel is the world leader in the leader in the

amount of venture amount of venture capital invested in capital invested in

high- tech high- tech industries, relative industries, relative

to GDPto GDP..

Source: Central Bureau of Statistics10

Economic Figures

GDP and GDP per Capita

Major GDP Components

Growth: Israel compared to the World

Exports of Goods and Services

Exports of Goods by Region

Imports of Goods and Services

Imports of goods by Region

Foreign Investments

Unemployment & Participation Rates

Inflation Rate

Estimates for 2008

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Main Indicators and Forecast12-13

14

15

16

17

18

19

20

22

23

24

26

Main Trading Partners21

Inflation Rate Worldwide25

*Using public exchange rate. *** Source: OECD.

** In current prices

Main Economic Indicators and Forecast

Criteria20032004200520062007

GDP (current prices in $B)*116123.6131.2142.3161.9

GDP Real Growth Rate (%)2.3%5.2.%5.3%5.2%5.3%

GDP per Capita

(PPP adjusted)***$26,476$28,169$25,762

GDP per Capita Growth Rate

(%, Current prices)0.4%3.4%3.5%3.4%3.4%

Exports (Goods & Services)** $B*

(As Percentage of GDP)

43.6

(37.6%)

52.7

(42.6%)

57.6

(43.9%)

62.9

(44.2%)

71.5

(44.2%)

Imports (Goods & Services)** $B*

(As Percentage of GDP)44.5

(38.4%)52.3

(42.3%)57.6

(43.9%)62.0

(43.6%)73.6

(45.5%)

Unemployment Rate (%)10.7%10.4%9.0%8.4%7.3%

12

Criteria20032004200520062007Total Gross Debt (Percentage of GDP)101.7%99.9%95.9%86.7%80.8%Government Expenditure

(Percentage of GDP)51.2%48.1%46.3%45.6%45.1%

Current Account (% of GDP)1.2%2.4%3.3%6.0%3.2%Inflation Rate ( CPI, end of year)-1.9%1.2%2.4%-0.1%3.4%Credit Rating

( Long-term Foreign Bonds )Moody’s: A1

(Stable)S&P: A

(Positive)Fitch: A(Stable)

About Credit Rating: The government’s credit rating affects banks, companies and financial bodies in the market. The rating creates a “ceiling” which acts as a reference to their bond pricing. Credit rating indicates the macro-economic status of an economy and affects foreign investors’ decisions whether to invest in the market.

Recently Moody’s Ratings have raised Israel’s foreign currency credit rating from ‘A2’ to ‘A1’ and local currency credit rating from ‘A2’ to ‘A1’ (Both: Stable).

Source: Ministry of Finance, Central Bureau of Statistics

Main Economic Indicators and Forecast (con.)

13

Source: Central Bureau of Statistics, Ministry of Finance

8.9

6.1

-0.4

-2.7

-0.6

-2.6

2.3

0.4

5.2

3.4

5.3

3.5

5.2

3.4

5.3

3.4

-5.0

-3.0

-1.0

1.0

3.0

5.0

7.0

9.0

2000 2001 2002 2003 2004 2005 2006 2007

GDP GDP per Capita

GDP and GDP per Capita (Annual rate of change (%), in Constant Prices)

Growth forecasts for 2008 : 4.2%Growth forecasts for 2008 : 4.2%

14

GDP GrowthIsrael compared to Advanced Economies* (Annual rate of change (%), in constant prices)

1.3%

-0.4%

1.6%

-0.6%

2.0%2.3%

3.2%

5.2%

2.5%

5.3%

3.1%

5.2%

2.6%

5.3%

1.7%

4.2%

1.7%

3.5%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

2001 2002 2003 2004 2005 2006 2007 2008 2009

World Growth Israel Growth

* (Weighted average: US - 44%, Euro area - 37%, Japan - 4%, UK - 8%, Asian Newly Industrialized countries - 7%)

Source: Ministry of Finance, Israel.

Since 2003, Israel’s growth rate has exceeded the average Since 2003, Israel’s growth rate has exceeded the average growth rate of advanced economiesgrowth rate of advanced economies

15

1.2

5.0

-6.1

8.1

5.6

-2.6

2.5

18.2

3.93

10.5

4.3 4.5

2.3

5.35.9

6.8

2.6

13.1

8.4

-8

-3

2

7

12

17

2003 2004 2005 2006 2007

Private Consumption Government Consumption

Investment in Fixed Assets Exports of Goods and Services

Major GDP Components(Annual rate of change (%), in constant prices)

Source: Central Bureau of Statistics, Ministry of Finance 16

Source: Central Bureau of Statistics

Exports of Goods and Services ($B)

30.2

13.4

36.7

16

40.1

17.4

43.7

19.3

50.4

21.1

0

10

20

30

40

50

60

70

80

2003 2004 2005 2006 2007

Goods Services

17

Exports of Goods by Region(Excluding diamonds)

Source: Central Bureau of Statistics*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)

2006 2007

North America

30.5%

Asia15%

European Union34.5%

Rest of Europe*

6.5%

Africa3%

Other11%

Africa3%

Other8%

Asia15.1%

Rest of Europe*6.8%

European Union32.9%

North America37.5%

(USA: 31.2%)

18

)USA: 28%(

Imports of Goods and Services (B$)

33.3

11.2

39.5

12.8

43.8

13.7

47.1

15

55.8

17.9

0

10

20

30

40

50

60

70

80

2003 2004 2005 2006 2007

Goods Services

Source: Central Bureau of Statistics, Ministry of Finance

30% growth in vehicle imports in 200730% growth in vehicle imports in 2007

19

Imports of Goods by Region

(excluding Diamonds)

Source: Central Bureau of Statistics

*Rest of Europe Includes E.F.T.A . Countries (Norway, Switzerland, Liechtenstein and Iceland)

Africa0.7%

Other 16.6%

Asia19%

Rest of Europe*

9.9%

European Union36.9%

North America

16.9%(USA: 13.4)

Rest of Europe*

9.3%

Africa 0.72%

Asia 20.7%

North America

15.9%

European Union 35.5%

Other 17.8%

(USA: 14.9%)

2006

2007

20

6.9

9.7

3.5

1.9

3.5

0.9

2.1

1.6

2.3

1.2

1.8

1.6

1.6

1.2

1.5

1.2

1.7

0.7

1.3

1

0

2

4

6

8

10

12

14

16

18

USAGermany

ChinaThe Netherlands

ItalyUK Turkey

France

JapanBelgium

16.6

5.5

4.4 3.7 3.5 3.4 2.8 2.7 2.4 2.3

5.2

10

3.2

1.7

2.4

0.8

1.8

1.3

1.9

1

1.6

1.4

1.30.8

1.31.2

1.3 1.20.8

0

2

4

6

8

10

12

14

16

0.7

Israel’s Main Trading Partners(US$ Billions, excluding diamonds)

Source: Central Bureau of Statistics

2006

2007

21

EXPORT

IMPORT

15.2

4.9

3.2 3.1 2.9 3.02.1 2.5 2.0 2.0

Foreign Investments (B$)

Source: Ministry of Finance

1.7

4.53.1

9.6

5.1

12.3

3.6 4.1

1.73.2 3.9

5.3

2

9.2

4.8

9.2

14.7

25.8

10.3

13.6

0

5

10

15

20

25

30

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

Direct Investments

Total Investments

22

In July 2008, the Norwegian pension fund “Global” decided In July 2008, the Norwegian pension fund “Global” decided to invest over half a billion euros in Israel.to invest over half a billion euros in Israel.

Unemployment and Participation (As % of Total Labor Force)

Source: Central Bureau of Statistics

9.2%

8.9% 8.9% 8.9%8.8% 8.8%

6.30%

7.5%

8.2% 7.8% 7.8%

7.2%

6.7%54.9%

55.1%55.2%

55.7%

55.5%

55.7%

56.1%

56.5%

56.1%

55.5%

55.7%

56.5%56.6%

6.0%

6.5%

7.0%

7.5%

8.0%

8.5%

9.0%

9.5%

2005Q1

Q2 Q3 Q4 2006Q1

Q2 Q3 Q4 2007Q1

Q2 Q3 Q4 2008Q1

54.5%

55.0%

55.5%

56.0%

56.5%

57.0%

Unemployment Rate

Participation in the Labor Force

The Participation Rate in the Labor Force peaked at 56.6%.The Participation Rate in the Labor Force peaked at 56.6%.

23

Inflation Rate (Rate of Change in CPI, end of year)

Source: Central Bureau of Statistics, Ministry of Finance

1.3% 0.0% 1.4%

6.5%

-1.9%

1.2%

2.4%

-0.1%

3.4%

-2%

-1%

0%

1%

2%

3%

4%

5%

6%

7%

1999 2000 2001 2002 2003 2004 2005 2006 2007 *

After a 1.5% increase in April and 0.6% in May, CPI inAfter a 1.5% increase in April and 0.6% in May, CPI inJune 2008 grew by 0.1%.June 2008 grew by 0.1%.

24

Inflation Rate Worldwide (Rate of Change in CPI, end of 2007)

The Bank of Israel has raised its interest rate to 3.75%, facing a The Bank of Israel has raised its interest rate to 3.75%, facing a rising CPI in the second quarter of 2008.rising CPI in the second quarter of 2008.

25

0%1%2%3%4%5%6%7%8%9%

3.4%

Sources: Central Bureau of Statistics, OECD

Criteria

Real GDP+ 4.2%

Business GDP+ 4.9%

Exports+ 6.4%

Private Consumption+ 4.6%

Public Consumption+ 2.0%

Investment in Fixed Assets+ 7.3%

Source: Ministry of Finance

Growth of Main GDP Components 2008

2008 Projection

26

Balances

Budget Deficit;

Current Account;

Net Foreign Debt

General Government Expenditure

Gross Public Debt

Gross Tax Burden

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28

29

30

31

Gross Public Debt (as percentage of GDP)

Source: Ministry of Finance

99.6%

102.0%100.7%

97.0%

86.7%

80.8%

80%

85%

90%

95%

100%

105%

2002 2003 2004 2005 2006 2007

Since 2003, the gross public debt has been on a downward trend.Since 2003, the gross public debt has been on a downward trend.

28

Source: Ministry of Finance

Budget Deficit and General Government Expenditure

0.00% 1.00% 2.00% 3.00% 4.00% 5.00%

2007

2006

2005

2004

2003

2002

2001

2000

1999

29

Budget DeficitBudget Deficit

0.00%1.00%2.00%3.00%4.00%5.00%6.00%

2007

2005

2003

2001

1999

Government ExpenditureGovernment ExpenditureBoth Government Both Government expenditure and budget expenditure and budget

deficit have been deficit have been decreasing since 2003decreasing since 2003

Tax revenues up byTax revenues up by 6.7% in 2007 6.7% in 2007

Current Account and Net Foreign Debt

Source: Bank of Israel

-1.3% -0.6%1.2%

2.4%

3.3%

6.0%

3.2%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

2001 2002 2003 2004 2005 2006 2007

In 2003, current account turned positive, In 2003, current account turned positive, conversely with the decrease of the net foreign debt.conversely with the decrease of the net foreign debt.

Current Account

Net Foreign Debt

2.8%0.1%

-2.3%

-5.7%-8.2%

-15.5%

-22.7%-25.2%

-30%

-25%

-20%

-15%

-10%

-5%

0%

5%

2000 2001 2002 2003 2004 2005 2006 2007

30

Source: Ministry of Finance, OECD *As of 2005

Gross Tax Burden (as % of GDP)

Tax burden has been in the vicinity of OECD average since 2003Tax burden has been in the vicinity of OECD average since 2003

37.1%

38.1% 38.1%

37.5%

36.4% 36.4% 36.4%

36.8%

37.3%

1999 2000 2001 2002 2003 2004 2005 2006 2007

31

- - - OECD countries average: 36.2%*

International comparisons

and additional data

Capital Raised by Israeli Venture Capitals

Central Bank Interest Rates

NASDAQ and Tel Aviv 100 Indices

Israel’s Credit Rating

Global Competitiveness Index

Global Competitiveness Index: Selected Issues

Business Competitiveness Index ;Network Readiness Index

Figures from Tel Aviv Stock Exchange

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33

34

35

36

37

40

41

38

Capital Raised by Israeli Venture Capitals (By Vintage Year*)

ICTICT**** product has been growing rapidly in recent years, product has been growing rapidly in recent years, exceeding the rate of total growthexceeding the rate of total growth

33

0

500

1000

1500

2000

2500

3000

2007200620052004200320022001200019991998

Vintage year – first capital call or first investment, Including venture lending. **Information and communication technologies.

Source: Israel Venture Capital (IVC)

Central Bank Interest Rates

Israel vs. U.S.A

Source: Bank of Israel (BOI), Federal Reserve

0%

1%

2%

3%

4%

5%

6%

1 2 3 4 5 6 7 8 9 10

11

12

1 2 3 4 5 6 7 8 9 10

11

12

1 2 3 4 5 6 7 8 9 10

11

12

1 2 3 4 5 6 7

2005 2006 2007 2008

Bank of Israel Rate

U.S. Federal Funds Rate

3.75%

2.0%

34

NASDAQ & Tel Aviv 100 (monthly average)

1000

1500

2000

2500

3000

3500

4000

200

300

400

500

600

700

800

900

1000

1100

1200

Nasdaq (left scale)

Tel Aviv 100 (right scale)

Source: Tel Aviv Stock Exchange (TASE) and the Ministry of Finance. 35

Source: Credit Rating Agencies, Accountant General

Israel’s Credit Rating 1992-2008

A1/A+

A2/A

A3/A-

Baa1/BBB+

Baa2/BBB

Baa3 /BBB-

Moody's raised Israel bond ratings to 'A1' from 'A2'Moody's raised Israel bond ratings to 'A1' from 'A2'

36

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Moody's A1 S&P A Positive Fitch A Stable

Source: World Economic Forum, Global Competitiveness Index, 2007-8

16

5839

2927

2522

2018

17

139

62

1

26

Global Competitiveness Index, 2007-2008

Countries that have been invited for open discussions for joining the OECD.

Israel Ranks Israel Ranks 1177thth out of 125 Countries out of 125 Countries

37

Global Competitiveness Index, 2007/8SELECTED CATEGORIES

0 5 10 15 20 25

Estonia

Germany

Korea, Rep.

Singapore

Australia

Hong Kong SAR

Denmark

Israel

Netherlands

United States

0 5 10 15 20 25

Norway

Belgium

Germany

Korea, Rep.

United States

Switzerland

Sweden

India

Israel

Finland

0 5 10 15 20 25

Hong Kong SAR

Norway

Ireland

Singapore

Netherlands

Sweden

Finland

United Kingdom

Israel

Switzerland

Venture Capital AvailabilityVenture Capital Availability

Source: World Economic Forum, Global Competitiveness Index, 2007-8

0 5 10 15 20 25

Hong Kong SAR

Ireland

United Kingdom

Finland

Denmark

Israel

Korea, Rep.

Japan

United States

Switzerland

Availability of Scientists & EngineersAvailability of Scientists & Engineers

Quality of Scientific Research FacilitiesQuality of Scientific Research Facilities Company Spending on R&DCompany Spending on R&D

RANK

RANKRANK

RANK

38

0 5 10 15 20 25

Chile

Denmark

Norway

Japan

United Kingdom

United States

Ireland

Israel

Hong Kong SAR

New Zealand

0 5 10 15 20 25

Norway

Belgium

Germany

Korea, Rep.

United States

Switzerland

Sweden

India

Israel

Finland

0 5 10 15 20 25

Hong Kong SAR

Norway

Ireland

Singapore

Netherlands

Sweden

Finland

United Kingdom

Israel

Switzerland

Strength of Investor ProtectionStrength of Investor Protection

Source: World Economic Forum; Global Competitiveness Index, 2007-8

0 5 10 15 20

Iceland

United States

Canada

Ireland

Israel

Germany

Singapore

New Zealand

United Kingdom

Hong Kong SAR

Availability of Latest TechnologiesAvailability of Latest Technologies

Utility PatentsUtility Patents Legal Rights IndexLegal Rights Index

RANK

RANK RANK

RANK

Global Competitiveness Index, 2007/8SELECTED CATEGORIES

39

(con.)

Russia

Greece

Chile

Slovenia

Portugal

Estonia

Israel

Germany

Japan

Canada

United Kingdom

United States

Switzerland

Denmark

Countries that have been invited for open discussions for joining the OECD

Source: World Economic Forum; Global Competitiveness Index (GCI), 2006; Global Information Technology Report

*NRI: Measures the level of ICT (Information and Communication Technologies) development of nations [LINK TO SITE]

**GCI: Provides a holistic overview of factors critical to productivity and competitiveness [LINK TO SITE]

5.71) 1(

5.58) 5(5.54) 7(

5.45) 9(

5.35) 11(5.27) 14(

5.22) 16(5.14) 18(

5.02 (20)4.48) 28(

4.41 (30)

4.36 (31)3.98) 48(

3.54) 70(

Network Readiness Index (NRI)* 2006-7

Business Competitiveness

Index2007-8

The business climate is a critical element of sustained economic growth

6455

4946

3027

2522

1916

128

52

1

36

40

Israel and the OECD

Real GDP growth in 2007-8

Unemployment Rate in 2007-8

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GDP Based on PPP per Capita in 2006

44

45

43

Real GDP Growth(Annual percentage of change, partial list)

0%

2%

4%

6%

8%

10%

12%

Source and projections: OECD and the Ministry of Finance, Israel

2.7%1.8%

07’ 08’

OECD has given Israel the Roadmap for accession to the organization...OECD has given Israel the Roadmap for accession to the organization...

07’ - 5.3%

08’ - 4.2%

42

Unemployment Rate

(average)

Source: OECD, Ministry of Finance

Following the Roadmap, Israel has already submitted the initial memorandum Following the Roadmap, Israel has already submitted the initial memorandum

0% 2% 3% 5% 6% 8% 10% 11%

Total OECD

Euro area

Slovak Republic

Greece

Spain

Portugal

Israel

Hungary

Finland

Italy

Ireland

United States

Korea

Switzerland

Norway

08

’ 07

’

43

08’ 07’

08’ 07’

08’07’

GDP per capita based on purchasing-power-parity (PPP)

2007, (in US$)

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

33,294 25,758

Source: Economics and Research Department calculations from OECD and the Central Bureau of Statistics data 44

18 professional Israeli teams are currently answering OECD 18 professional Israeli teams are currently answering OECD questionnaires, designated to review Israel’s policy questionnaires, designated to review Israel’s policy

International Treaties

Israel’s Free Trade Agreements

Avoidance of Double Taxation Agreements

Cooperation in Industrial R&D Agreements

Protection of Investments Agreements

International Organization Memberships

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45-6

47

48-9

50

44

Israel’s Free Trade Agreements

46

1985

1992

1997

1997

European Union (Association Agreement)

USA

EFTA

Canada

Turkey

Mexico

MERCOSUR

1999

2000

2007

Avoidance of Double Taxation Agreements

CroatiaCroatia

DenmarkDenmark

EstoniaEstonia* *

EthiopiaEthiopia

FinlandFinland

FranceFrance

GermanyGermany

GreeceGreece

AustriaAustria

BelarusBelarus

BelgiumBelgium

BrazilBrazil

BulgariaBulgaria

CanadaCanada

ChinaChina

Czech Czech RepublicRepublic

HungaryHungary

IndiaIndia

IrelandIreland

ItalyItaly

JamaicaJamaica

JapanJapan

LatviaLatvia

LithuaniaLithuania

* The agreement with Estonia has only been signed initially 47

(con.)

SwitzerlandSwitzerland

ThailandThailand

The NetherlandsThe Netherlands

TurkeyTurkey

UkraineUkraine

United KingdomUnited Kingdom

UzbekistanUzbekistan

USAUSA

LuxembourgLuxembourg

MexicoMexico

MoldovaMoldova

NorwayNorway

PhilippinesPhilippines

Portugal *Portugal *

PolandPoland

RomaniaRomania

RussiaRussia

SingaporeSingapore

SlovakiaSlovakia

SloveniaSlovenia

South AfricaSouth Africa

South KoreaSouth Korea

SpainSpain

SwedenSweden

* The agreement with Portugal has been recently ratified

Avoidance of Double Taxation Agreements

48

Cooperation in Industrial R&D Agreements

BelgiumBelgium

CanadaCanada

ChinaChina

FranceFrance

Hong KongHong Kong

ItalyItaly

NetherlandsNetherlands

PortugalPortugal

SpainSpain

UKUK

USAUSA

SingaporeSingapore

IrelandIreland

SwedenSweden

FinlandFinland

GermanyGermany

IndiaIndiaAustriaAustria

KoreaKorea

49

Protection of Investment Agreements

AlbaniaAlbania

ArgentinaArgentina

ArmeniaArmenia

BelarusBelarus

Bulgaria Bulgaria

CroatiaCroatia

CyprusCyprus

Czech RepublicCzech Republic

El-SalvadorEl-Salvador

EstoniaEstonia

GeorgiaGeorgia

GermanyGermany

HungaryHungary

IndiaIndia

KazakhstanKazakhstan

KoreaKorea

50

TurkmenistanTurkmenistan

UkraineUkraine

UruguayUruguay

UzbekistanUzbekistan

QIZ AgreementQIZ Agreement

EgyptEgypt

JordanJordan

LatviaLatvia

LithuaniaLithuania

MoldovaMoldova

PolandPoland

RomaniaRomania

SlovakiaSlovakia

SloveniaSlovenia

ThailandThailand

TurkeyTurkey

Protection of Investment Agreements )con(.

51

International Organization* Memberships:

BIS | BSEC (observer) | CE (observer)BIS | BSEC (observer) | CE (observer)

CERN (observer) | EBRD | FAO | IADB | IAEA CERN (observer) | EBRD | FAO | IADB | IAEA

IBRD | ICAO | ICC | ICCT (signatory) | ICFTU IBRD | ICAO | ICC | ICCT (signatory) | ICFTU

IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF IDA | IFAD | IFC | IFRCS (observer) | ILO | IMF

IMO | Interpol | IOC | IOM | ISO | ITU | MIGAIMO | Interpol | IOC | IOM | ISO | ITU | MIGA

OAS (observer) | OECD (candidate)OAS (observer) | OECD (candidate) | OPCW (signatory)OPCW (signatory)

OSCE (partner) | PCA | UN | UNCTAD |OSCE (partner) | PCA | UN | UNCTAD | UNECE | UNEPUNECE | UNEP

UNESCO | UNHCR | UNIDO | UPU | WB |UNESCO | UNHCR | UNIDO | UPU | WB | WCO | WFP | WHOWCO | WFP | WHO

WIPO | WMO | WTOO | WTRO | WIPO | WMO | WTOO | WTRO | WTOWTO

* Economic Organizations 52

Relevant Sites

Back to Contents

Government Institutions:

OECD Stat Profile on Israel

Bank of Israel (BOI)

Central Bureau of Statistics

Israeli Government Portal

Ministry of Finance

Israel Securities Authority

Ministry of Industry, Trade and Labor

OECD Israel

Economic News:

“The Marker”

“Globes”

WWW.FINANCEISRAEL.MOF.GOV.IL

International Affairs Department Homepage:

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Contact:

Ms. Ravit Friedberg

International Affairs Department

Ministry of Finance, Jerusalem, Israel

FinanceIsrael@mof.gov.il

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