Finance Minister Bezalel Smotrich met with a group of industrialists in Ma’ale Adumim against the backdrop of plans by Britain and other countries to impose sanctions on Israeli goods and products.
During the meeting, the minister revealed that the government is working on a package of forceful economic and diplomatic measures in response to countries that take such steps, alongside comprehensive financial support for Israel’s domestic business sector.
At the beginning of his remarks, Smotrich addressed the planned international measures and said, “This idea that it will be possible to force us to commit suicide and establish a terrorist state here, in the very heart of the Land of Israel, through criminalization - whether because I have an arrest warrant in The Hague and sanctions against me, or through economic sanctions - is unacceptable."
Smotrich then qualified his remarks, saying, “Countries are entitled to have their own diplomatic positions," but firmly emphasized: “No one is going to try to force us to commit suicide through sanctions and economic pressure. We’re done being passive players. We are now preparing a package of very painful responses, in both the diplomatic and economic arenas, against countries that think they can impose sanctions."
The minister pledged full support for factory owners and businesses. “The State of Israel will provide a safety net for anyone harmed as a result of such boycotts."
At the same time, he recommended that industrialists work to identify new export destinations. “A large part of our resilience in the face of these pressures comes from the fact that we are a relatively small country with enormous, virtually limitless global markets. One market closes - other markets will open."
As an example of potential alternative markets, Smotrich pointed to the Indian economy, which has posted sustained annual growth of 6%, 7% and even 8%, creating substantial purchasing power.
“The United States as well - it’s farther away than Europe, but it’s possible. Air routes will open, and I hope to advance the IMEC. There will be entirely different regional arrangements here as a result of the victories in the war and as a result of our geopolitical position, which is far stronger and more significant today, and the perception of us as a regional power here in the Middle East."
In his concluding remarks to the industrialists, Smotrich reiterated his promise: “We will fight back against countries that try to harm you. We will be here as a state and provide a safety net, and where necessary, we will help open new markets. If we need to provide a safety net and compensation, we will do that as well. Because you are doing the right thing, the most Zionist thing, the most important thing. Thank God, there is a strong state and a strong economy that will stand beside you and behind you and under no circumstances allow you to face the consequences alone."