Finance Minister Michael de Jong is leading a trade mission to Israel to strengthen intergovernmental relationships, with a focus on the life sciences and cyber security sectors.
On this trip, de Jong will be meeting Israeli government officials and stakeholders in Tel Aviv, Jerusalem, Be'er Sheva, and Haifa, as well as Palestinian Authority representatives in the West Bank territory. de Jong will also meet with government and industry stakeholders to further British Columbia’s relationship with Israel’s sophisticated life sciences and high tech sectors.
This mission will connect B.C. with some of the top life sciences organizations in Israel and the world, including Technion University, the home of three Nobel Laureates, which has been credited worldwide for its ability to generate start-ups and for its significant impacts in clean tech, life sciences, and more.
Trade missions are an important part of British Columbia’s international engagement strategy to support economic growth in priority sectors as well as BC Jobs Plan objectives. Under the BC Jobs Plan, government recently added four new sectors: clean tech, life sciences, digital media, and advanced manufacturing. Israel is recognized as a world leader in fostering innovation and commercialization of advanced technology, particularly in the area of life sciences.
de Jong will be in Israel from Nov. 13–17. de Jong will be travelling back through London where he will meet with representatives of the international financial community. On Nov. 21, de Jong will open the London Stock Exchange, where B.C. is being honoured for innovation in financial capital markets, most recently for being the first foreign government to issue a Masala bond into the offshore rupee market.
The estimated travel and accommodation cost for the minister and his chief of staff is approximately $25,000. Information on final costs will be made available.
Minister of Finance Michael de Jong –
“The B.C. government recently added life sciences to the BC Jobs Plan as a new sector of focus, and Israel is recognized as a world leader in fostering innovation and commercialization of advanced technology, particularly in the area of life sciences.
“British Columbia's attractive fiscal climate, business incentives and diversified economy offer significant opportunities for growth and investment. To keep our economy diverse, strong, and growing, we can’t sit still. We must continue to move into new markets and target investments that make our sectors more competitive and increase export capacity.”
- According to the 2011 census, 1,190 British Columbians identify themselves as being of Israeli descent.
- 6,779 Israeli tourists arrived in B.C. in 2015
- Israel has a highly developed market economy with more high-tech start-ups and a larger venture capital industry per capita than any other country in the world.
- Israel has become a high tech epicenter built around Internet security, anti-virus software, and other cyber defense technologies.
- The Israeli government has played an important role in encouraging research and development in life sciences. According to a 2015 report, Israel invested $100 million annually over the last decade in the sector―a significant amount considering it is a nation of 8 million people.
- Israel’s major industries are high-technology products, metal products, electronic and biomedical equipment, agricultural products, processed foods, chemicals, and transport equipment.
- Israel is one of the world's centres for diamond cutting and polishing.
- Top 5 Exports from B.C. to Israel 2015:
- Dredgers; vessels/docks/platforms
- Transmission apparatus etc.
- Taps, valves, etc. for pipes, tanks, etc.
- Instruments for measuring/detecting radiation and electrical phenomena
For more information about B.C. trade and investment opportunities visit: http://www.britishcolumbia.ca/
Learn more about the BC Jobs Plan at: www.bcjobsplan.ca