On Sunday 3rd July, City of London Lord Mayor Michael Bear, opened the Tel Aviv Stock Exchange ahead of a major panel discussion, heralding the City of London’s ambition to enhance the already thriving commercial relationship that exists between the UK and Israel.
Lord Mayor Bear’s gesture has tremendous symbolic resonance. While London remains the epicenter of the financial world, the City of London nevertheless realizes the opportunity to capitalize on the meteoric growth of the Israeli economy, seemingly unaffected by the financial turmoil faced by it’s closest trading allies.
Mr Bear was joined by British Ambassador Matthew Gould, who claimed that the “United Kingdom has committed itself nationally to forging the strongest possible hi-tech partnership with Israel”. Israel is already one of the UK’s key strategic business partners with annual bilateral trade exceeding the $4 billion mark, namely because of a dramatic increase in UK exports to Israel in recent months.
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