Israeli companies’ will bring agricultural and technological know-how to developing countries, creating win-win relationships that also generate increased revenues for Israeli businesses.
Israel is helping to achieve development goals set by the United Nations (UN) in water, agriculture, nutrition, health, education and technology. According to the UN, in order to meet the goals by 2030, $4 trillion will be needed per year.
The UN’s 2030 Agenda for Sustainable Development outlines 17 goals for the international community to implement by 2030 “to end poverty, protect the planet, and ensure prosperity for all.”
The project includes Sustainable Development Goals (SDGs), to which Israel has much to contribute.
For instance, in the sphere of water and sanitation, Israel has experienced much success in combating water scarcity on a global scale through a series of revolutionary technologies such as water desalination and drip irrigation.
Israel, which has been ranked as a world leader in water conservation, continues to share its expertise with countries struggling with water shortages.
Israel, which is joining the global effort, has a relative advantage in at least five of the goals: water management, advanced agriculture, qualitative and universal health services, innovation and advanced energy.
“We are continuing to build up Israel’s standing. This is an important step of the highest magnitude … strengthening economic ties with international markets, especially India, China, Africa and Latin America,” Prime Minister Benjamin Netanyahu stated.
He noted that Israel is a global leader in technology, agriculture, water and medical care.
“We have a vast export potential that we are about to realize thanks to correct policy. The moves that we are leading will strengthen the developing countries and the Israeli economy and will increase activity by Israeli companies. All of these, of course, will greatly contribute to our diplomatic ties with international organizations and the countries of the world,” Netanyahu added.
Increase Exports, Accelerate Growth, Strengthen Israel’s Standing
The Jewish state’s government will assist Israeli companies’ involvement in developing countries, which will realize economic and social benefits while Israeli companies will generate increased revenues.
As a result of the process, the state of Israel will increase exports. accelerate growth, and strengthen Israel’s diplomatic standing.
Israeli exports are currently concentrated in a small number of target countries, with only around 25 percent directed to developing countries, while the developing world comprises approximately 55 percent of the global economy and is expected to comprise almost two-thirds in another decade.
Private consumption in the developing world is also rising and is expected to grow from about $18 trillion annually today to over $30 trillion per year within a decade.
According to forecasts, no less than 70 percent of the growth in global output in the coming decade will be in developing countries.
The Cabinet during its weekly meeting on Sunday decided to join the global effort for international development.
“The government decision will realize Israeli companies’ hidden potential and strengthen the Israeli economy,” Netanyahu stated.
To further the government effort, an inter-ministerial committee will be established, chaired by the Director-General of the Prime Minister’s Office, which will receive authority regarding the determination of target countries while focusing on the areas in which the state of Israel has a relative advantage.