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, and Wizz Air from most London airports and Manchester
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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
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Source: UK-Israel Business.
