BOYCOTTS COST ISRAEL 100 MILLION SHEKELS IN LOSSES

Tel Aviv, 5 Jumadil Awwal 1435/6 March 2014 (MINA) – According to Israel’s Maariv newspaper, Israeli sources believe that the international boycott of Israeli settlement products has already caused Israel’s economy financial losses amounting to about 100 million shekels ($30 million).

“the agricultural sector in the Jordan Valley suffering the most,” Middle East Monitor (MEMO) reported reported as quoted by Mi’raj Islamic News Agency (MINA), Friday (7/3).

One source described the boycott as a “constant war”, while others added that they expect Israel will face an increase in the number of boycott calls, especially if the peace talks with the Palestinians fail and the construction of settlements continues.

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The source noted that the European Union will also renew its decision to label settlement products if the negotiations fail, which would cause even more damages to the Israeli economy.

Maariv reported on Friday that the European calls to boycott settlement products would likely grow, while the European imports from Israel would shrink. The overall volume of settlement exports to Europe is estimated to be about 300 million shekels ($90 million), with most sales generated by SodaStream.(T/P03/E01)

Mi’raj Islamic News Agency (MINA)