(Last updated: 26 Aug 2013)
Market profile
Doing Business
Israel is made up of a large variety of ethnic groups and religions (large Jewish majority with significant Muslim/Christian minorities), and as such, is a multi-cultural society with a wide range of behaviours.
More information on doing business in Israel
Country Profile
Content supplied by Department of Foreign Affairs and Trade
- ECONOMIC CLIMATE
Israel has a technologically advanced market economy with substantial, though diminishing, government participation. It depends on imports of crude oil, grains, raw materials, and military equipment.
» read more at DFAT
- TRADE RELATIONS
Australia has warm and close relations with Israel, which are supported strongly by Australia’s active Jewish community.
» read more at DFAT
- POLITICAL CLIMATE
The State of Israel is a robust parliamentary democracy. The Knesset (parliament) is made up of 120 members elected every four years on the basis of proportional representation.
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Top Business Risks
OECD Guidelines for Multinational Enterprises
Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.
Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.
The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.