Israel Turns to Asian Markets, Despite US Objections

By Tzippe Barrow

CBN News Internet Producer - Jerusalem

Monday, April 20, 2015

Ad Feedback

JERUSALEM, Israel --  It seems the many challenges facing the Jewish state fuel its determination to press ahead in today's marketplace, laying the groundwork for future generations.

While Israeli Prime Minister Benjamin Netanyahu sought a two-week extension to wrap up talks with potential coalition partners, the current government continues to take care of business.

Netanyahu, who also serves as finance minister, recently applied for Israeli membership in the Asian Infrastructure Investment Bank (AIIB), led by China. Analysts say the decision is evidence of Israel's understanding of Asia's rising place in global markets and the importance of improving relations with Asian countries.

The Obama administration is reportedly unhappy with the decision because it views the AIIB as a threat to the World Bank, according to a position paper by the Begin-Sadat Center (BESA).

"The new bank is viewed by many as an important indicator of the changing economic and global balance of power, appearing as a threat to the World Bank," the paper states.

But joining AIIB is just one example of the Jewish state's ingenuity in today's marketplace.

Annual Innovation Report 

Israeli Chief Scientist Avi Hasson released the first annual innovation report, more evidence of the stuff it takes to keep the economy moving forward.

"Our challenge in the coming years will be to remain at the forefront of global technology while implementing innovative measures in all aspects of the market and the economy," Hasson said. He listed four ways to help Israel meet these challenges:

• Creating new sources of funding for industry
• Turning more hi-tech companies into major companies
• Implementing and developing technologies in traditional industries and in the public sector
• Smarter and more efficient government involvement

Cultural Tourism   

Meanwhile, the tourism sector, one of Israel's most important, continues to flourish.

Last year saw record numbers of tourists and 2015 is off to a very good start.

Israeli Tourism Minister Dr. Uzi Landau released a statement last week on a Polish Tourism Ministry conference that took place at Jerusalem's Dan Panorama Hotel. Some 170 senior representatives of Poland's tourism industry came for the conference.

Landau says Israel is an increasingly favorite destination for cultural tourism, as well as religious pilgrimages, so it's important to present new and attractive destinations to potential visitors.

"Poland is one of the fastest emerging markets in Central Europe and, with the increase in the local standard of living, it is important to present Israel as a quality and attractive holiday destination to the potential Polish tourist," Landau said.

There are many examples of Israeli innovation -- in medical breakthroughs, hi-tech, agriculture, solar energy, startups and venture capital. All of it contributes to its forward-moving economy.

It seems neither boycotts, divestment, sanctions, criticism or threats from Islamists are succeeding in bringing down the Jewish state. In fact, those very obstacles are fueling Israeli determination to succeed.

In an increasingly competitive global marketplace, Israelis recognize that hard work pays off.