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(Ynet News) The financial implications of Britain's withdrawal from the EU are not necessarily negative, according to a report published Sunday by Israel's Ministry of Finance. The British economy is the fifth largest in the world and the second in Europe. The Finance Ministry believes "it is possible that the UK's exit from the EU will improve Israel's ability to compete in the European market." An increase in Israeli exports to Europe is likely in high-productivity goods, such as pharmaceuticals, electronic machinery and equipment, and optical equipment, in which Israel has a relative advantage in export and which now constitute a significant share of British exports to Europe. There is also the possibility of an increase in British demand for Israeli exports, which could substitute importing from Europe in many industries, such as pharmaceuticals.2016-07-01 00:00:00Full Article
Finance Ministry: Brexit May Be Good for Israel
(Ynet News) The financial implications of Britain's withdrawal from the EU are not necessarily negative, according to a report published Sunday by Israel's Ministry of Finance. The British economy is the fifth largest in the world and the second in Europe. The Finance Ministry believes "it is possible that the UK's exit from the EU will improve Israel's ability to compete in the European market." An increase in Israeli exports to Europe is likely in high-productivity goods, such as pharmaceuticals, electronic machinery and equipment, and optical equipment, in which Israel has a relative advantage in export and which now constitute a significant share of British exports to Europe. There is also the possibility of an increase in British demand for Israeli exports, which could substitute importing from Europe in many industries, such as pharmaceuticals.2016-07-01 00:00:00Full Article
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