Israel aims to become world’s 15th largest economy by 2025 — minister

Discussion in 'Israel & Middle East News' started by Chris, Mar 19, 2017.

  1. Chris

    Chris Administrator Staff Member

    Israel aims to become world’s 15th largest economy by 2025 — minister
    ‘A country’s strength depends on the strength of its economy,’ Eli Cohen says at start of Beijing trip with prime minister
    By Raphael Ahren March 19, 2017, 7:53 pm 2
    Minister of Economy and Industry Eli Cohen speaks during the 14th annual Jerusalem Conference of the 'Besheva' group, on February 13, 2017. /Yonatan Sindel/Flash90)

    BEIJING — Israel aspires to become the world’s 15th largest economy by 2025, Economy and Industry Minister Eli Cohen said Sunday, arguing that Israel’s power depends on its economic growth. “A country’s strength depends on the strength of its economy,” Cohen told reporters accompanying Prime Minister Benjamin Netanyahu and his delegation to the Chinese capital for a three-day visit to mark 25 years of diplomatic ties and to boost bilateral trade.

    “Why is the US the world’s biggest superpower? Because they have the largest economy. China is getting increasingly strong and is projected in nine or 10 years to become number one, also in terms of defense, and this is happening against the background of economic strength,” said the politician, a member of the center-right Kulanu party, which focuses on socioeconomic issues.

    “The State of Israel, with only 8.5 million citizens, also stands in a very respectable place,” Cohen added, “especially when you take into account Arabs and the ultra-Orthodox (sectors that are relatively under-represented in the workforce). We want to include them even more into the workforce. Our goal is to become the 15th largest economy in the world in eight years. And therefore we focus on the economy. We understand that Israel’s strength is an economic strength.”

    While many Israelis call for additional government funds to be put into education, culture, health and social welfare, investing in economic growth will ultimately bring more funds into public coffers that can then be spent in these areas, he argued. During their China trip, Israeli government officials and a group of 90 private businessman will be working to double trade with China, Cohen said. Just 15 years ago, annual Israeli exports to China totaled $50 million; today the figure is $9.5 billion.

  2. Chris

    Chris Administrator Staff Member

    This would be a terrific feat if it happens. A country of only 7-8 million doing that. Incredible. But at the same time, hopefully we are not here then. :rapture
    Andrew likes this.

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