Latin America. Credit: Wikimedia Commons.

( Israeli Prime
Minister Benjamin Netanyahu is working to improve economic ties with
politically friendly Latin American countries in order to compensate for the
crippled economy of Israel’s main trading continent, Europe.

Latin America. Credit: Wikimedia Commons.

The new effort to increase
Latin American trading, particularly with Chile, Peru, Colombia and Mexico,
will compliment Netanyahu’s simultaneous effort to increase economic ties with
China and other East Asian countries. These four Latin American countries
formed the free-trade Pacific Alliance last year and account for about 36
percent of the continent’s gross domestic product (GDP). They all trade
significantly with North America.

Currently in Latin
America, Brazil is Israel’s main trading partner, taking in Israeli exports at
about $1.1 billion per year and importing to Israel at about $400 million per year. In
June, Israeli President Shimon Peres signed a free-trade agreement with

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