An official delegation, accompanied by a delegation of 25 businessmen left on September 3, 2007, to Ukraine for a round of economic and commercial talks in line of the combined committee Israel-Ukraine, which is held for the fourth time since Ukraine received independence in 1991.

An official delegation, accompanied by a delegation of 25 businessmen, representing app. 20 companies, left on September 3, 2007, to Ukraine for a round of economic and commercial talks in line of the combined committee Israel-Ukraine which is held for the fourth time.

At the head of the Israeli delegation is Deputy Director of the Ministry of Industry, Trade and Labor and Director of the Foreign Trade Administration, Mr. Boaz Hirsch and it includes representatives of the Ministry of Industry, Trade and Labor, the Ministry of Finance and the Ministry of Foreign Affairs, as well as 26 senior representatives of private Israeli companies, of the Israel Export Institute and of the Chamber of Commerce Israel-Russia and the Commonwealth of Independent States (which is chaired by Mr. Lev Leviev).

Mr. Hirsch noted that the size of the delegation reflects the massive interest the Israeli market has in Ukraine as well as in Russia and in several other CIS countries, and that this delegation is yet another step in the commerce infrastructure the Foreign Trade Administration establishes in these countries.

Hirsch further added that "we are interested in developing the technological field as well and I hope that during the visit we will succeed in signing a cooperation agreement with the Ukrainians, regarding the standardization and start a negotiation of an R&D cooperation agreement. We are also interested in examining the subject of cooperation between Israel and Ukraine in key projects which are conducted in a developing country of such a great economic potential".

The delegation will stay in Kiev, capital of Ukraine for about two days, during which it is expected to sign an agreement in the field of standardization between the two countries, as well as a framework agreement for a joint activity in health issues.

In addition, a negotiation is expected to be held regarding the issues of financing and credit for Israeli projects in Ukraine, in the field of industrial R&D cooperation, and in the field of investment protection.

Ehud Gonen, Director of East and Central Europe Desk in the Foreign Trade Administration says that the "Israeli investments' focus" has been shifting to the east for several years now. "if the nineties were characterized by an activity in Hungary and in Czech, and the beginning of the new millennium were characterized by an activity in Romania and in the Balkans, then today we talk of Ukraine, Georgia and Russia". Gonen further states that the Israeli investments are mainly in the fields of real estate, however there is a great activity in the technological fields as well and the delegation leaving today wishes to study more of the Ukrainian market. "over 100 thousands Israelis hold, in addition to their Israeli citizenship, a Ukrainian citizenship, and they constitute deep cultural and family relations of great economic potential" Gonen further added.