Israel's recognition: Is it known where Israelis want to invest in Kosovo

Investments from Israel to Kosovo, exchanges between these two states, according to official data, have not been high-level, compared to other states.

According to Kosovo Customs statistics, last year products worth about 22m euros, mainly oil derivatives and plastic products, while exports of Kosovo products to this state were minimal, worth about 85 thousand euros.

About 1.6m euros in investment from Israel

In recent years, however, foreign investments from Israel in Kosovo, according to the Central Bank of Kosovo, have been around 1.6m euros. Of this amount, about one million euros were invested in the real estate sector, while the rest have been invested in the trade sector. Meanwhile, in 2020, the value of remittances from Israel was about 170 thousand euros, said in a response by the CEC given to Radio Free Europe.

Kosovo and Israel formalised diplomatic relations on February 1st at a virtual ceremony, in which former incumbent Minister of Foreign Affairs and Kosovo Diaspora Melza Haradinaj-Sublla and Israeli Foreign Affairs Minister Gabriel Ashkenazi signed the document, which said both states establish diplomatic relations in order to boost co-operation in many spheres.

After the establishment of diplomatic relations between Kosovo and Israel, Kosovo's Kosovo Investment and Development Corporation has opened in Pristina -- (KIDIC) whose goal is to be the development and boosting trade ties between Kosovo and Israel.

On the official page of this corporation, it is said that “K IDIC offers an ideal gateway to business development, opportunities and co-operation between organisations in Kosovo and Israel”.

And the sectors on the official site of this corporation are: the technology sector, protection and security, response to disasters and emergencies, agriculture, medical research and export.

Representatives of this corporation have refused to talk at this moment about Radio Free Europe.

Coca: Kosovo has conditions for Israeli investors

But, the director general of the Investment Agency and the Support of Enterprises in Kosovo (KIESA), Hajriz Koca, who the previous day has had a meeting with representatives of this corporation, has said they are interested in the conditions Kosovo offers for foreign investors.

K ISA is the state agency of Kosovo, whose mandate is to promote and support investments, exports, tourism, small and medium-sized enterprises, as well as specific economic areas in the Republic of Kosovo.

The “Fahes in which investors from Israel are interested in investing are tourism, hotel and wood industry. We accompanied them on different visits. They are also interested in a regional investment, as at this step they will provide more market”, Koca said.

Zeka: Kosovo can benefit economically

Even Arrian Zeka, executive director in the American Economic Ode, says mutual recognition between Kosovo and Israel, in addition to political importance, will have positive economic effects as opportunities for increased economic and trade exchanges.

Given Israel's achievements in technology and innovation in general, Zeka stresses that this is the opportunity Kosovo organisations and institutions can benefit from.

“We as the American Economic Ode, being part of the same American Council of Ods, already have co-operation with the American Economic Ode in the state of Israel and very soon we expect to contribute to economic advancement between the two states of”, Zeka said.

Zeka believes Kosovo has enough resources that are appropriate for Israeli investors.

Kosovo, however, offers important elements to do business and attract international investors. It is the new workforce, its geographic position, reliefs and natural resources Kosovo”, Zeka said.

“Sectors that may be attractive to Israeli investors may be the food processing sector and why not because Kosovo is at a crossroads between Asia and the region of Europe, it is also important for sectors and other industries”, he added.

Foreign investments in Kosovo have seen decline in recent years. In 2018, foreign investments amounted to 213.7m euros, while Kosovo had closed 2019 with 265m euros in international investment. / REL.