BICOM

Israeli Prime Minister Benjamin Netanyahu will arrive in the UK today for a two-day official visit. During his trip to London the Prime Minister will meet with his British counterpart, Prime Minister David Cameron, as well as with leaders of the British Jewish community.

Ahead of Netanyahu’s visit, the British government has announced that Israeli companies will invest some £3 million in South Wales as part of plans that could lead to the creation of up to 100 jobs. Economic ties between the two countries have deepened considerably in recent years. Bilateral trade was valued at more than £5.1 billion in 2014 and UK Trade and Investment together with Israeli Economy Ministry are continuously working to promote further partnerships between British and Israeli companies.

Britain is Israel’s second biggest export market after the United States and nine Israeli companies carried out IPOs on the LSE last year – second only to the UK itself. Some 300 Israeli companies have a physical presence in the UK, responsible for thousands of jobs. In 2014, 24 Israeli companies set up or expanded their operations in the UK.

Beyond business, the two countries have also strengthened cooperation and ties in the fields of science and technology. The Cabinet Office announced in March of this year the establishment of a partnership between Israeli and UK academics to develop responses to emerging global cyber security threats. This stemmed from a Memorandum of Understanding in the field of bilateral digital cooperation, which was signed in 2014 and spoke of the desire to create greater cooperation in science, technology, business and trade.