Trading with Israel

A brief overview

The business and economic relationship between the UK and Israel has grown strongly over recent years with a doubling in bilateral trade which exceeded $7.5bn in 2016

Israeli Memberships

  • Israel is an associate member of the EU
  • Israel joined the Organisation for Economic Co-Operation and Development (OECD) in 2010
  • Israel is a member of the World Trade Organisation (WTO)
  • Israel has free-trade agreements with the EU, European Free Trade Association and the USA
  • The UK & Israel have a double taxation treaty

Practicalities

  • English is widely spoken and accepted as a business language
  • The Israeli business community is familiar with UK business practices
  • The Israeli legal system is based on the British common law system
  • There is a 2 hour time difference between the UK and Israel
  • Flights between the UK and Israel take around 5 hours
  • Multiple airlines serve Tel Aviv including British Airways, easyJet, El Al, Monarch and Wizz Air from most London airports and Manchester

Israel in the UK

  • There are over 300 Israeli companies employing thousands of individuals operating in the UK representing sectors including high tech, pharmaceutical and finance.
  • We have seen Israeli tech companies grow rapidly in the UK
  • The UK is Israel’s number one destination for investment in Europe
  • Israel is the third largest investor in the UK from the Middle East region
  • Israeli investment positions in the UK exceeded £14bn in 2014 compared to £9bn in 2010
  • The London Stock Exchange is home to 28 Israeli companies with a combined market capitalisation of over $8bn
  • In 2014,  more Israeli companies listed on the London Stock Exchange than from any other country apart from the UK

UK in Israel

  • In 2015, Israel was the UK’s fourth largest trading partner in the Middle East.
  • Globally, in 2015, Israel was the UK’s 39th largest trading partner for the export of goods and the UK’s 37th largest trading partner for the export of services
  • Services and goods exports from the UK to Israel accounted for £942m in services and £1.15bn in goods in 2015
  • The top ten UK exports to Israel include vehicles, pharmaceuticals, general machinery and chemicals & plastics
  • UK services exported to Israel grew by 118% between 2006 and 2015, rising from £433m to £942m