Israel-Czech Republic Chamber of Commerce and Industry
Bilateral chamber of commerce in Israel:
Sister Bilateral chamber of commerce in the member state:
Chairman: Mr. David Hercky
General Manager: Mr. Shaul Lifshitz
Address: 23 Efal St., Kiryat Arye, 49511 Petah Tikva (P.O. B 3286)
Israel - Czech Republic Chamber of Commerce was established during December 2010 as a non-profit organizations registered with the Ministry of Justice. Israel - Czech Chamber of Commerce and Industry is a voluntary organization which aims to promote trade relations, tourism, culture, including bilateral relations between Israel and the Czech Republic. The Chamber of Commerce Israel - Czech Republic Founded by ICCCI 30 known businessmen in the Israeli economy and hold ties with the Czech Republic.
According to official sources, the volume of trade between Israel and the Czech Republic over the amount of $ 400 million in 2010, an amount which is very high in relation to the scope of Israel's trade with Eastern European countries.
Free trade agreement between Israel and the Czech Republic was signed in 1996. With the Czech Republic acceptance to the EU in May 2004 it accepted the Union's framework agreements. In terms of ties with Israel it meant cancellation of the free trade area agreement between the two countries and expand the Association Agreement between EU and Israel.
Foreign direct investment (FDI) in recent years contributed to a decisive contribution to the economy of the Czech Republic, and were compared with the economies of the area (about 50% of GDP). Since 1990, direct investments reached the country nearly $ 20 billion half of which were received in recent years. Most investments are in trade and real estate but there were also significant investments in banking and industry - Automation and electronics. Czechs constitutional system that creates "a comfortable environment" for investors . No restrictions on the expenditure of profits or capital from the state.
Embassy in Israel:
Czech Republic-Israel Chamber of Commerce and Industry
Israeli Embassy in the member state:
Ambassador: H.E. Ivo Schwarz
Address: Zeitlin St. 23 POB 1631 61163 Tel Aviv
Economic Attaché: Mr. Branislav Gal
EU membership year: 2004
Capital City: Prague
Total Area: 78,866 sq km
Currency: Czech Koruna
The Czech Republic became an independent state in January 1993 after Czechoslovakia split into its two constituent parts. Manufacturing is still a major economic activity, especially the production of automobiles, machine tools, and engineering products. Iron and steel industries are important in Moravia in the east of the country. The chief crops are maize, sugar beet, potatoes, wheat, barley, and rye. Exports continue to drive the recovery in real GDP, which is set to grow by 2.4% in 2010 and 2.8% in 2011, with domestic demand more subdued because of the weak labour market and fiscal consolidation. By 2012 the economy is likely to be growing by 3.2%. Temporary inflationary pressures are coming from energy prices and housing costs, but the inflation target of 2% should be achieved. The new government has proposed fiscal consolidation for 2011, focusing primarily on cuts in operational expenditures. The opportunity offered by the economic recovery should be seized to address structural issues to improve the underlying balance of the public finances and enhance economic potential.
Israel-EU Chamber of Commerce - Daniel Frish 3, Tel-Aviv, 64731 Tel. 972-3-6951869