Israel keen to invest in textiles in Uruguay

YarnsandFibers News Bureau 2013-11-12 04:11:00 – Uruguay

Israel has shown keen interest in investing in Uruguayan textile sector following a visit by a delegation led by the government of Uruguay and the Chamber of Information Technology (CUTI) to Isreal recently. According to a statement issued of Roberto Kreimerman, minister of of industry, energy and mining, Uruguay, the visit to Israel was initiated to generate concrete investment projects and for Uruguayan businessmen to analyze various sectors in Israel, including textiles.

As a result of the visit, many Israeli businessmen have are keen to invest in Uruguay and have recommended setting up joint ventures for various new projects initiated in different sectors of the Uruguay, including textiles.

The Minister also informed that Uruguay exports US$170 million worth of goods to Israel annually, including textile and apparel goods, and these investments would result in further expansion of trade between the two countries.

The delegation from Uruguay visited various business and industrial centers in Israel as well as textile factories, in order to understand the process of manufacturing in Israel.

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