Business

Israel, Slovenia
Free Trade Deal

Jerusalem (JPFS) — Industry and
Trade Minister Natan Sharansky and
Slovenian Economics and Foreign
Trade Minister Marjan Senjur signed
a free trade agreement between
their countries in Jerusalem, after two'\
years of negotiations.
Israel has already signed free trade
agreements with other central and
eastern European countries, including
Poland, Hungary, the Czech Republic
and Slovakia. It is also negotiating an
accord with Romania.
These countries and Slovenia have
association agreements with the
European Union which resulted in
discrimination against Israeli goods.
The free trade agreements elimi-
nate this discrimination, providing a
potential boost for Israeli products to
compete in eastern European mar-
kets.
For its part, Slovenia is seeking
Israeli investments, technology and
joint ventures in areas in which Israel
has a comparative advantage, includ-
ing telecommunications, agro-chemi-
cals and medical equipment.
Under the agreement, most prod-
ucts will immediately enjoy a full
exemption from tariffs.

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JEWISH NEWS

Jerusalem (JPFS) — Executives from
General Electric visited Israel to
explore for the first time opportuni-
ties for investing in start-up compa-
nies, according to government offi-
cials.
The company officials, from the
research and development and trade
divisions, met with representatives
from 40 start-up companies, 23 of
them projects that operate in the
Industry and Trade Ministry's techno-
logical incubators.
The Industrial Cooperation
Authority organized the visit. It has a
multi-year counter-purchase agree-
ment with GE, in which the compa-
ny must spend 35 percent of the
amount the Israeli government buys
from it.
Authority Director-General
Ephraim Shoham said the agreement
enables GE to invest in any techno-
logical sector, and the company is
seeking cooperative ventures with
Israeli companies.