Ontario to open Israel office to promote economic ties

Seen here, from left, are Barry Sherman, chair and CEO of Apotex; Eric Hoskins, Ontario Minister of Economic Development, Trade and Employment; Larry Tanenbaum, chair of Maple Leaf Sports and Entertainment; DJ Schneeweiss, Consul General of Israel; and Monte Kwinter, MPP for York Centre.

TORONTO — The rain is falling, flowers are budding and if you breath deeply, you can make out more than just a faint whiff of an election in the air.

Coincidental with the season, the government of Ontario last week announced it was opening an office in Israel to help promote business and trade between the two jurisdictions.

The government will soon solicit applications for an official to run the office, someone with his or her finger on the business pulse of both Ontario and Israel, to better bring together potential partners for joint ventures or investments.

The office will likely open in the summer, said Eric Hoskins, minister of economic development, trade and employment. When it does, likely in proximity to the Canadian embassy in Tel Aviv, it will mark only the second Ontario representative office abroad during his ministry, joining one inaugurated in Sao Paulo, Brazil in 2014. Other Ontario offices are located in New York, San Francisco, Mexico City, London, Paris, Munich, Beijing, Shanghai, Tokyo, and New Delhi.

“This should be a strong signal of the priority the government gives to this relationship,” Hoskins said.

The government of Ontario created the ministry headed by Hoskins in 2013, with the mandate of “Going Global” when it comes to trade and growth.

“Increasing the number of Ontario companies that export and help companies expand their trade to new markets is fundamental to growth,” the ministry stated.

Ontario and Israel did around $800 million in two-way trade in 2013, but, “I believe nothing can replace the ground focus to build and foster those ties, said Hoskins.

“Ontario and Israel have a long history of working closely together,” the minister stated. There is opportunity for co-operation in the high-tech, energy and water sectors.

“Israel is an economically thriving nation with many strong connections to our province. An on-the-ground presence in Israel will forge new partnerships between businesses, and help Ontario companies grow and create jobs here at home.”

Last week, Hoskins hosted a roundtable at the Ontario Investment and Trade Centre. Close to 30 business and community leaders gathered to brainstorm ideas to help the project succeed.

“We brought the cream of the crop around the table to guide us through this process going forward,” said Hoskins, who has visited Israel four times, including twice as head of a trade delegation.

“Israel is a natural priority,” he stated. Pointing to the significant Jewish population in the province, Hoskins said, “We have a great relationship between Israel and Ontario…so the business and other ties between Ontario and Israel are strong.”

Israeli Consul General DJ Schneeweiss said Israel would co-operate to ensure the project succeeds, bringing benefits to both Israel and Ontario. “This is a reflection of our strength but also a reflection of the Ontario leadership to identify the opportunities,” he said.

Joel Reitman, founder and president of Jillcy Investments, said “I’m a proud Jewish Ontarian who loves Israel.

“It’s fantastic what’s being done in Israel,” said Reitman, whose company has invested in Israel’s high-tech sector. “We’re looking for investments all the time. Israel is certainly a wonderful place to invest in.

“Ontario is a treasure trove of very brilliant people too.”

Barry Sherman, chair and CEO of Apotex, a pharmaceutical company, said the success of a representative office in Israel will be judged on the extent it helps make things happen.

“Apotex is eager to find any collaboration that makes sense,” he said.

The company currently does not do business in Israel, largely because the industry is dominated by a big Israeli player.

But there’s a lot of potential for business in Israel, he said. A trade officer “could be helpful as long as he works hard and sees the opportunities to synergies.”

“We need someone to identify the opportunities and bring them to us.”

Canada and Israel signed a Free Trade Agreement in 1996, and in 2005, Ontario and Israel signed a Memorandum of Understanding to promote industrial research and development. To date, 14 industry-led joint R&D ventures have been approved in the areas of medical devices, information and communication technology, manufacturing, clean tech and life sciences.