5 Germany: Israel’s most important economic partner in the European Union Current dynamics between Germany and Israel “There is a lot of compatibility between this big German economy and Israel’s innovation,” affirmed Ron Prosor, Israeli ambassador to Germany at the “Restart IL Economy” conference in Berlin on February 29th. Bringing together major Israeli tech companies and luminaries with German-based investors, the conference showcased some of Israel’s best innovations and revealed close solidarity following the Hamas attack on Israel in October 2023 and the war that followed. The conference also launched an initiative called “Next October,” the brainchild of Israeli businessman and politician Izhar Shay, who lost his son Yaron on the first day of the war. The initiative plans to help found 1,400 new innovative start-ups for every human life lost in Israel on October 7th and continue Israel’s tradition of producing great companies, products and services. In this latest edition of Israel Desks magazine, we wanted to explore the current state of play in the economic relationship between the two countries and speak to those luminaries from the legal sector who play an integral role in such cross-border deals. “Germany is proud to be Israel’s most important economic partner in the European Union,” said Dr. Volker Wissing, MP, Federal Minister for Digital and Transport, at the Restart IL conference. “If you want to launch a start-up, you go to Tel Aviv or Berlin, that’s no longer a secret known to industry insiders. Both cities are diverse and laid back and creative and innovative and cutting edge and share an entrepreneurial sprit,” he added. Our trade relations bear witness to the strengths and potential of the two national economies. We see countless opportunities for cooperation between German and Israeli businesses, especially in the technology, renewable and infrastructure sector.” Berlin is a safe harbor for Israeli companies. Berlin is a bridge between east
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