Jerusalem, 15 February 2000
Industry Minister Cohen Meets NASDAQ Chairman Zarb
(Communicated by Ministry of Industry and Trade Spokesman)
Minister of Industry and Trade Ran Cohen yesterday (Monday),
14.2.2000, met NASDAQ Chairman Frank Zarb and other NASDAQ officials
to discuss cooperation between NASDAQ and Israeli firms, dual listing
on the Tel Aviv and NASDAQ stock exchanges and their advantages and
ramifications on the regional economy.
"Companies listed on NASDAQ ought to be listed automatically on
Israeli exchanges," said Minister Cohen. He briefed the delegation on
political developments and the importance of full peace in order to
achieve economic prosperity for the region. "Our objective is to
create an economic peace, joint industrial parks and joint ventures by
entrepreneurs," he said. In the Minister's opinion, the opening of a
land passage between Israel and Europe would bring about a tourism
breakthrough and other economic opportunities.
Ministry Director-General Dr. Reuven Horesh called on NASDAQ officials
to show greater involvement in the Israeli economy and to develop a
relationship with the Tel Aviv Stock Exchange.
Mr. Zarb replied that he supports dual listing by companies listed on
NASDAQ, including listing on Israeli exchanges. He noted that he
considers Israel to be an important regional economic center,
especially in light of the large number - over 100 - of Israeli
companies listed on NASDAQ. He added that NASDAQ is open to all
business opportunities, provided that they are economically viable.