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TRADE MINISTRY LAUNCHES SPECIAL INCENTIVE PROMOTING TRADE WITH FAR EAST

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Sunday, August 21st, 2011

Israel’s Ministry of Industry, Trade and Labor launched a new incentive to encourage and assist Israeli companies interested in trading in China and India.

A company that is selected for the program can receive up to 700,000 shekels a year for three years. The funds are to be used to help the company establish and operate an overseas office in India or China, including a local team and a consultant. The company will also receive a single grant of 400,000 shekels to set up a beta-site to prove the product or service’s application in the local market.

The program is geared to medium to large companies with sales of between 20 and 200 million shekels and annual exports of at least 10% of sales that are interested in establishing themselves in the Indian or Chinese market for the long run.