With the Israeli shekel continuing its trend of strengthening against the US dollar, Finance Minister Roni Bar-On (Kadima) and Industry, Trade and Labor Minister Eli Yishai (Shas) have activated a plan to assist exporters in order to increase exports. According to Bar-On, the plan "will provide sources of financing at advantageous rates for exporters, and will broaden the range of export target countries in the long run."
The plan is expected to reduce red tape, simplify procedures, and increase the amount of investment from the government. Exporters will be granted loans at favorable terms, with small and mid-sized businesses being granted accessible and detailed professional advice on managing and hedging foreign currency risk. The Israel Export and International Cooperation Institute will also assist, financing international fairs and conventions, upgrading national booths at foreign conventions, conducting seminars about foreign trade and international marketing, and providing advice on finding distributors overseas.