Maggio Musicale Fiorentino" Is the Most Important Music Festival in Italy and Has Enormous International Prestige
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No. 5 April 2000 peakers from the realm of politics, business fully taken part in Israel's technological boom experience of building industrial parks in bordering S and universities discussed the prospects and, conversely, Israel accumulates high trade areas, stressing the importance of regional of new economic ties between Israel, Italy and deficits with Europe. These amounted to US$ economic cooperation as a means of connecting the European Union. The challenge seems to 4,5 billion in 1999. Israel to Europe through a belt of integrated lie in developing industrial cooperation, which Minister Fassino, who had come to Israel on an Mediterranean Countries. Giovanni Barontini, has so far lagged behind trade. Opportunities official visit with a business delegation, stressed Head of International Strategies of Telecom Italy's wish to deepen and widen Italia, signalled his company's interest in stepping her economic relations with Israel, up its presence in Israel, beside its recent acquisition building up on her position of of the optic-fiber cable Med1, linking Italy with third largest exporter to Israel. Tel Aviv and Cyprus. <> Italian and Israeli business appear to be largely complementary and are likely to exploit their comparative advantages more efficiently by pooling their efforts. Italy and the European Union, said Fassino, can play an important Edited by: role in the Peace Process by The Italian Embassy in Tel Aviv fostering economic cooperation "ECONOMIC RELATIONS BETWEEN ISRAEL, ITALY AND in the Middle East, i.e. by EUROPE: A NEW START?" pg1 promoting a convergence of ITALIAN MINISTER OF FOREIGN TRADE PIERO FASSINO material interests, which is the IN ISRAEL pg2 of regional cooperation should also be seized. ultimate guarantee of a lasting peace. FIAT AND GENERAL MOTORS ANNOUNCE STRATEGIC Guests of honour were Italian Minister for Minister Cohen testified to his own personal INDUSTRIAL ALLIANCE AND FINANCIAL PARTICIPATION Foreign Trade, Piero Fassino, and Israeli Minister friendship with Minister Fassino - whom he had EXCHANGE pg3 of Industry and Trade, Ran Cohen. met three times in a few months - and to Israel's ITALY AT 6th INTERNATIONAL MEDITERRANEAN strategic interest in closer ties with Italy and TOURISM MARKET pg4 The Lion Hall of the Faculty of Management Europe. He appreciated Italy's willingness to ITALIAN MANUFACTURERS OF REHABILITATION at Tel Aviv University (TAU) was jam-packed play an increasing role in the projects of regional EQUIPMENT IN TEL-AVIV pg4 for the debate, revealing a growing interest in cooperation, suggesting Italian investment in SCIENTIFIC FLASH pg4 the Israeli public for relations with Italy and Israeli-Palestinian industrial parks. STEP TOWARDS ENABLING ITALIANS TO VOTE ABROAD pg5 Europe in general. "If we cannot be a member Stefano Di Cara, Economic Counselor of the ITALIAN AS CHIEF OF STAFF OF U. N. TRUCE State of the European Union because we are not European Union in Tel Aviv, raised, inter alia, SUPERVISION ORGANISATION pg5 a part of Europe geographically" said Avi Primor, the question of the effects of Israel's wish to pg5 Vice-President of TAU, in his opening remarks, upgrade its relationship with the European Union: THE MILITARY ACADEMY OF MODENA "mentally, scientifically, economically and "(This) means accepting a very large portion of FLORENCE PREPARS FOR 63rd "MUSICAL MAY" pg6 culturally we must be part of Europe". European legislation, and I don't know to which CALENDAR OF EVENTS pg6 Today economic relations between Israel on one extent the Country is prepared for that". Showing pg7 side and Italy and Europe on the other are good, a piece of parmesan cheese to the audience, he MILVA SINGS BERTHOLD BRECHT but there is scope for improvement. Trade flows also pointed out "the very high duties in Israel BRUNO ZEVI MEMORIAL PANEL DISCUSSION pg7 are remarkable: more than 43,3% of Israel's and in the European Union that prevent trade UNVEILING OF OTHER FRESCOES IN THE SISTINE CHAPEL pg7 import comes from Europe, and 35,6% of Israel's in agricultural products" and indicated that the CHILDREN'S THEATRE FROM FRIULI TO HAIFA pg7 export goes to Europe. Industrial cooperation, bilateral agricultural protocol is to be renegotiated however, does not yet measure up to such trade this year. GIUBILEO E CULTURA pg8 volume: European and Israeli companies do not The floor was also taken by prominent business Embassy of Italy so far seem to have established a wide network people and professors of TAU and of Bocconi 4, Weizman St. Tel Aviv of ties such as the ones characterizing US-Israeli University, Milan. Among others, Stef Wertheimer, Tel: 03-6964223/4/5 Fax: 03-6918428 relations. As a consequence, Europe has not yet Board Chairman of ISCAR, illustrated his E-mail:[email protected] 1 he participation of Italian Minister Week" to be held in for Foreign Trade, Piero Fassino, Torino, Piedmont on to the Conference at Tel Aviv University 13-16 June 2000. was part of his official visit to Israel. This will be opened Minister Fassino was invited by Ministry by Minister Cohen. of Industry and Trade Cohen. He came to In the field of Israel on 24 Februray 2000 heading a industrial delegation that included high-ranking cooperation, both representatives of Italian Government parties stressed the Agencies dealing with trade promotion and importance of a assistance. The delegation included Professor bilateral Agreement Fabrizio Onida, President of the Italian on Industrial, Institute for Foreign Trade (ICE), Luigi Scientific and Dante, Director General of the Italian Technological R&D Company for Joint-Ventures Abroad Cooperation, the (SIMEST) and Vincenzo D'Elia, of the Italian signing of which will Institute for Foreign Trade Insurance Services take place shortly. In (SACE). He was also accompanied by a the meeting with delegation of 25 business people. Minister for Regional The meeting with Minister of Industry and Cooperation Shimon Trade Ran Cohen was centered upon ways Peres, prospects of to strengthen bilateral cooperation. In the Italian investment in Italian Minister for Foreign Trade Piero commercial field Israel asked Italian support regional economic to fill her trade deficit towards Italy, which projects, such as Israeli-Palestinian industrial cooperation in the Middle East. The Italian exceeded 1 bn dollars in 1999. For this parks, were examined. Minister Fassino delegation also met with representatives of Israeli Government Agencies and Business Association, in which new forms of bilateral cooperation were agreed upon. ICE and the Israel Export Institute will sign a Cooperation Agreement in June 2000, in Torino, on the occasion of Israel's Technology Week, meant inter alia, to promote joint activities in third markets. SACE and SIMEST are expected to continue along these lines with Israeli counterparts. At a business lunch organized by the Italian Institute for Foreign Trade (ICE), Minister Fassino exchanged views with non- governmental organizations such as the Peres Center for Peace and the Economic Cooperation Foundation. Mr Gillon, Director General of the former, praised the active involvement of Italian business's concrete Hand-shake with Minister of Industry and Trade Ran Cohen engagement in the Centre's activities. The business delegation had working contacts purpose, a series of joint initiatives has been emphasized Italy's willingness to play an with its Israeli counterparts at Dan Panorama approved, starting from an "Israel's Technology active role in promoting regional economic Hotel.<> 2 eneral Motors Corporation and Fiat (the world leader in the auto industry) to face illustration of the effectiveness of GM's approach G S.p.A. have formed a strategic industrial the increasing technological challenges of this to grow profitably through the use of alliances." alliance, creating an important partnership new century. As part of the definitive agreement announced for the companies in two of the world's largest "At the same time," Fresco continued, "we are on 13 March 2000, Fiat, at a future point in time, automotive markets: Europe and Latin drawing upon the value of Fiat Auto to take a will have the right, if it so chooses at its discretion, America. significant stake in GM. This alliance immediately to put its remaining 80 percent equity interest unlocks value for the benefit of our shareholders in Fiat Auto to GM at fair market value, and The alliance promises significant opportunities while at the same time protecting the interests GM will have a right of first offer if Fiat decides to create value for both Fiat and GM shareholders of our employees, suppliers and the Italian system to sell its interest. through significant synergies in the areas of at large by maintaining control of our destiny. Fiat Group's other sectors, including Ferrari and material cost reductions, leveraging of each GM is aggressively moving ahead on our strategy Maserati, are not involved in this transaction. group's powertrain activities, efficiency in the to grow our global automotive business" said Key to the alliance will be the establishment of financial service operations, cross-sharing of John F. Smith, Jr., GM Chairman and Chief dedicated 50-50 joint ventures in purchasing automotive technologies, effective leverage of Executive Officer. "The opportunity to create and powertrain. each other's platforms, as well as other areas an alliance with a large and technologically In the area of Purchasing, Fiat Auto and GM under review. strong company like Fiat in a capital-efficient will leverage all their purchasing capabilities, manner helps us strengthen our position in Europe including Fiat Auto's "component platform" inter-functional team and GM's "creativity teams." The combined purchasing volume of the two The Number of The Two Partners companies provides significant opportunity for synergy. Fiat General Motors In addition, Fiat Auto and GM, along with its Employees 221,000 388,000 diesel partner Isuzu, will leverage their resources to improve power train offerings, performance Turnover Euro 47 bn Euro 15 bn and cost.