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Minnesota Trade Office Sets Trade Mission to Israel

St. Paul – The Minnesota Trade Office is planning a trade mission to Israel this fall to help high-tech companies based in Minnesota build strategic relationships and explore new business opportunities.

“As one of the world’s centers of innovation and technology, Israel presents an excellent opportunity for Minnesota high-tech firms interested in exploring their global prospects,” said Tony Lorusso, executive director of the Minnesota Trade Office, who will lead the trip scheduled for Nov. 13-20, 2008.

Israel is the largest U.S. market in the Middle East, importing $12 billion worth of U.S. products in 2007, including $121 million from Minnesota. Transportation equipment, machinery and computer products lead the list of items that Israel imports from the United States. Since 1995, there have been few tariffs on U.S. products entering Israel.

Israel has 35,000 high-tech companies and invests nearly 5 percent of its gross national product on research and development, by far the highest rate in the world.

The trade mission, which is co-sponsored by the American-Israeli Chamber of Commerce and Industry of Minnesota (AICCMN) and the Jewish Community Relations Council (JCRC), has several objectives, including helping Minnesota business leaders:

• Explore business opportunities with Israel;
• Acquire market information and contacts;
• Facilitate high-tech exchanges and collaborations;
• Increase Minnesota exports to Israel; and
• Develop strategic relationships with groups that support U.S.-Israeli trade and investment.

The week-long trip will include visits to Jerusalem, Tel Aviv, major IT firms, business incubators and institutes, and historic sites. The estimated cost is $5,000, including airfare, scheduled meals and six nights of hotel accommodations.

People interested in participating should contact Paul Hansen, 651-259-7486 or paul.hansen@state.mn.us, at the Minnesota Trade Office by Aug. 15.

The trade office is also offering a half-day seminar titled “Doing Business in Israel” on Wednesday, Sept. 24, at the Gray Plant Mooty law office in the IDS Center in downtown Minneapolis.
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The seminar, which will run from 9 to 11:45 a.m., will examine market opportunities in Israel, the role of research institutions in Israel’s economy, high-tech products and skills that are being developed, and U.S. companies that have a presence in Israel.

Presenters will be Melvin Allerhand, president of Fairmount Professional Services, a Cleveland-based consulting firm; Alan Wielunski, of the U.S. Foreign Commercial Service in Tel Aviv; and Lori Wiese-Parks, of Gray Plant Mooty in Minneapolis.

Upon request, the information in this news release is available in an alternative format
such as braille, large print, audiotape, or computer disk.