Germany and Israel will establish a mechanism for economic and financial dialogue

Finance Minister Moshe Kahlon and Deputy Chancellor and Finance Minister Olaf Schultz met in Jerusalem and signed a joint declaration that includes the establishment of a mechanism for financial dialogue between the parties in order to promote and strengthen cooperation in economic and financial fields *
Minister of Finance Moshe Kahlon: "We are deepening the ties between the large economy in Europe and the Israeli economy, and the new mechanism that we are establishing today will pave the way for additional economic opportunities between us and the Germans that will contribute to the prosperity of both countries. Economic and strategic significance. "
German Deputy Chancellor and Finance Minister Olaf Schultz: "I am pleased that the cooperation between the two countries is a new stage in the excellent relations between the Ministries of Finance of Israel and Germany, and the dialogue between the ministries will improve our professionalism and help us meet the economic challenges ahead."
The two ministers expressed their commitment to continue and increase economic cooperation on a number of issues, including the institutionalization of the economic and financial dialogue between the governments, Pintek and coping with cyber threats in financial organizations. To this end, the ministers agreed to establish a mechanism for ongoing financial dialogue between the ministries, in which the parties will exchange macroeconomic and financial forecasts, and will exchange regular information according to the needs of the governments on economic issues.
The meetings were held following Finance Minister Moshe Kahlon's meeting in May with German Finance Minister Olaf Schultz, in which they discussed the tightening and upgrading of relations between Israel and the European Union, of which Germany is the leading and dominant economy. It was agreed that the cooperation between the offices on cyber-finance and the joint signing of the Pintek agreement will be similar to the agreement Israel signed with Switzerland last year.

Israeli exports to Germany totaled $ 937 million in the first half of the year, up 13% from the same period last year, the Ministry of Economy and Industry
In the first half of the year there was a sharp increase of more than 30% in imports from Germany to Israel, and amounted to $ 2.88 billion compared to the first half of 2017.
On the background of German Chancellor Angela Merkel's visit to Israel, Minister of Economy and Industry Eli Cohen will meet today with German Minister of Economy and Energy Peter Altmeyer. "Germany is an important trading partner and a very close friend of Israel," he said at the end of the meeting with his German counterpart, the Minister of Industry, Trade and Labor, Cohen: "In 2017 there was growth in mutual trade between the countries up to $ 7.8 billion, Israeli innovation is interesting for the German market and we will continue to act to expose the enormous potential that exists in Israeli industry to Germany."