Forging closer economic ties with Israel
It’s amazing to think that up until May this year, the most recent trade deal between the UK and Israel was negotiated and agreed nearly 30 years ago.
When you consider that this was before the advent of technology that all of us today take for granted such as smart phones, fin tech and insure tech – it would be hard not to agree that the situation required a new focus. The news therefore that the UK and Israeli Governments have entered into negotiations for a new free trade agreement, with a focus on innovation and the aim of strengthening the trading relationship between the two jurisdictions, should be welcomed.
Israel is known as the “start-up nation” and it’s a world-renowned global centre for technology and innovation. Many Israeli technologies are rapidly changing the world that we live in.
Irwin Mitchell’s Israel Desk
We work with both Israeli companies undertaking work in the UK and help our UK clients capitalise on the incredible opportunities in Israel. Whether its investing in Israeli companies, purchasing technology, integrating technology into existing companies setting up operations here in the UK or individuals moving to and from Israel and the UK. We have strong relationships with professionals in Israel and can make necessary introductions to our clients to assist them with their endeavours.
Over the past nine months in my capacity as both a partner in the Corporate Team in the London office of Irwin Mitchell and head of our Israel desk, I‘ve travelled to and from Israel on a number of occasions (alongside colleagues from various teams including Banking & Finance, Fund Management and Private Wealth).
At the beginning of the year, we supported a fin-tech trade delegation organised by the Department for International Trade and The British Embassy in Israel. Joined by Banking & Finance partner and head of Irwin Mitchell’s India desk, Akhil Sharma and our Head of International Business Development, Rob Cowling, the primary objective was to showcase the UK’s world class financial services sector in Israel and understand the Israeli financial market in greater depth.
We have spent considerable time strengthening our key relationships whilst establishing links with new firms, We have showcased our credentials as a full service law firm and by travelling with colleagues such as Akhil Sharma, Sean Scott (Funds), and Yousafa Hazara (Private Wealth), we've been able to explore the opportunities surrounding these areas of law as well as providing legal assistance to our Israeli clients.
Sandwiched between these trips, we have also hosted the American-Israeli VC, Arieli Capital, when it visited Sheffield as it considers creating joint projects with tech-sector start-ups and scale-ups in the South Yorkshire region.
Most recently and also in the UK, Irwin Mitchell hosted an evening reception alongside the Department for Business & Trade to mark the second round of negotiations for the enhanced UK/Israel Free Trade Agreement between the UK and Israel.
There were approximately 80 guests on the night made up of government officials, trade ambassadors and business representation from across financial and professional services, tech, manufacturing, consumer brands, life sciences and pharma. Speakers included Oren Marmorstein (Deputy Ambassador of Israel to the UK); James Clarke (Chief Free Trade Agreement Negotiator); Yifat Alon Perez (Chief Negotiator for Israel); The Earl of Minto (Minister of State) and Lord Austin of Dudley (PM's Trade Envoy to Israel).
It was a huge honour to be involved in the event and certainly exciting to hear more about the opportunities for the UK and Israel.
UK clients are increasingly talking to us about Israel and the exciting opportunities they foresee. From our recent trips to Israel, it’s clear that this view is reciprocated. We have a number of events which we are hosting in the UK coming up regarding investing in Israel and Israeli technology. We are also busy planning a delegation for November focused on investment in Israel. The future looks very exciting, and we have no doubt that by working together, we can do great things.
How we can help
Our Israel Desk members have a deep understanding of the Israeli eco-system and strong relationships in the jurisdiction. We also have Hebrew speaking capability. Our full service law firm can assist with any legal requirements that Israeli companies may have in the UK.
If you represent a business in Israel looking for legal support in the UK, or an organisation based in the UK looking for representation in Israel, please do get in touch.
Irwin Mitchell’s International network
Irwin Mitchell is a member of numerous strategic international networks. It joined First Law International (FLI) in October 2018 as part of its international growth strategy and since being appointed it has become a key member of the network - highlighted by its appointment to FLI’s Advisory Board.
Irwin Mitchell is also a member of the Commonwealth Enterprise & Investment Council - a network of around 100 business and government members from around the Commonwealth – and has a seat on its Global Advisory Council.
