Trade set for Brexit boost

The Jewish Chronicle - - NEWS - BY LEE HARPIN

BRI­TISH AT­TEMPTS to bol­ster trade with Is­rael in the wake of the Brexit vote will be boosted by the con­tin­ued fall in the pound and the strength­en­ing of the shekel, a lead­ing busi­ness ex­pert has said.

Hugo Bieber, chief ex­ec­u­tive of UK Is­rael Busi­ness, says the cheap pound is con­vinc­ing in­creased num­bers of Is­raeli com­pa­nies to use the UK as a base for ex­pand­ing their start-ups.

Mr Bieber said: “A cheap pound makes the UK a more at­trac­tive place for Is­raeli in­vest­ment and we ex­pect this to trans­late into

Hugo Bieber an in­creased num­ber of jobs be­ing cre­ated in the UK by Is­raeli com­pa­nies us­ing the UK as a base for mar­ket en­try and ex­pan­sion”.

Trade be­tween the two na­tions is said to be worth £5 bil­lion. One main area of co-op­er­a­tion is cy­ber se­cu­rity, in which Is­rael re­ceives 20 per cent of world­wide in­vest­ments.

Mr Bieber said:“Is­rael is a world-leader in cy­ber se­cu­rity and UK Is­rael Busi­ness has played a role in en­sur­ing that the ma­jor­ity of the UK’s largest banks have sought out Is­raeli ex­per­tise to help pro­tect our bank­ing sys­tem.” Is­rael and the UK have set up a work­ing group to ne­go­ti­ate trade deals, with a team of up to four of­fi­cials meet­ing later this month.

PHOTO: TWIT­TER

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