Ontario business delegation to Israel signed $87 million in deals and partnerships

Delegation led by Ontario Premier who visited Israel for 5 days; Over 30 agreements signed in hi-tech, business, innovation, life sciences and much more

PM Netanyahu with Ontario Premier Kathleen Wynne in Jerusalem

Wynne & Netanyahu (Ontario Government)

The Premier of Ontario, Kathleen Wynne, traveled to Israel for a five-day visit along with a Canadian delegation of over 150 from the political, business, medical, science and academic sectors. In attendance were also Canada’s Minister of Health and Long-Term Care Dr. Eric Hoskins, and Ontario Minister of Development Reza Moridi.

The trade mission met with several Israeli officials, meetings focused on trade, investment and innovation cooperation opportunities between Israel and Ontario. Over 30 agreements were signed in the life sciences, technology and information sectors, totaling over $87 million.

Wynne met with Prime Minister Netanyahu earlier this week and also visited Israel’s national Holocaust museum, Yad Vashem as well as conducted several meetings with Israeli officials, including Chief Scientist Avi Hasson . She stated on her visit and increased cooperation “I am pleased that so many Israeli and Ontario companies have created partnerships to develop innovative solutions to real-world scientific and technological challenges. Ontario is the ideal location to take innovative ideas from concept to marketplace. We have a competitive corporate tax rate, a strong financial sector and a talented workforce.”

Ontario and Israel signed an amendment to its Memorandum of Understanding on Industrial and Technological Research and Development Cooperation which was created a decade ago, Wynne attending a signing ceremony in Tel Aviv. The amendment will increase partnership and business opportunities.

Following a meeting with Prime Minister Netanyahu, Premier Wynne spoke to the press stating “I concluded a successful meeting with Israeli Prime Minister Benjamin Netanyahu, where we discussed ways to strengthen ties between our regions and make them both more prosperous. Israel is one of the top innovation economies in the world, and a priority market for Ontario. Israel and Ontario are both leaders in the fields of research, innovation, and life sciences, making us natural partners.”

She spoke on business and cooperative projects, both past and present, stating “Ontario and Israel already have an industrial research and development Memorandum of Understanding in place, and over the last decade it has helped connect over 680 innovation leaders, generate 15 industry-led research and development projects, and leverage more than $16 million in outside funding. My first business mission to the Middle East will strengthen relationships, promote trade, and generate important agreements and partnerships. Providing companies with more opportunities to do business internationally will create jobs and economic growth in both Israel and Ontario, and I look forward to developing this important relationship further.”

Also this week, senior officials from Singapore’s technology and innovation disciplines visited Israel for meetings with Israeli counterparts focused on increasing future technology innovation and cooperation. The meetings centered on over $8.2 million in joint projects between Israeli and Singaporean companies. To date, a reported 150 joint projects have been implemented, totaling over $170 million in funding.