A Liberal Nationals Government will open a Business Office in Jerusalem, Israel, to increase access to export markets, facilitate investment into the immediate region and promote business innovation and collaboration with Israel.
Israel is widely recognized as the world’s “innovation nation” and has one of the highest proportions of research and development spending as a percentage of its total economy in the world.
This high proportion of investment expenditure has positioned Israel as an innovative and dynamic economy which embraces disruptive technologies and actively explores new industries.
Within Jerusalem many of Israel’s most innovative technologies are developed in areas such as Har Hotzvim. This business district is known as the “Campus of Science Rich Industries” and is the city’s main home for high-tech and science based companies, including Intel, Teva, Cisco and RAD Data.
Australian imports from Israel total over $930 million, however our exports lag behind at less than a third of this figure at $308 million. A business centre in Jerusalem would play a critical role in boosting Victoria’s export opportunities, whilst introducing Victorian businesses to the Israeli culture of growth, innovation and efficiency.
Quotes attributable to the Leader of the Opposition, Matthew Guy:
“I visited Israel in July and it was clear to me that there is a great opportunity for Victoria to establish a business office in Jerusalem.
“This is a great opportunity to share ideas, boost our exports to Israel and strengthen our relationship with this great country.”
Comments attributable to David Southwick MP, Shadow Minister for Innovation:
“Israel spends one of the highest proportions of its total economy in R&D and is recognised as one of the start-up capitals of the world. It makes sense for Victoria to build business links with Israel and take this unique opportunity to capitalise on their growing investment in innovation and business growth.
“This will complement the work that’s already been done by the Federal Government in Tel Aviv and gives us the opportunity to be the first Australian Government office in West Jerusalem.”
Media contact: Atia Sadiqzai | Atia.Sadiqzai@parliament.vic.gov.au | 0424 651 131 | 03 9527 3866