Kathleen Wynne, Premier of Ontario, Canada, arrived in Israel at the head of a delegation of over 100 Canadian politicians and business leaders on Sunday.
The delegation included amongst others Minister of Health and Long-Term Care Hon. Dr. Eric Hoskins, and Ontario Minister of and Development Reza Moridi.
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Today Wynne attended a signing ceremony today in Tel Aviv where Israeli and Ontario experts from the life sciences and technology and information sectors signed 18 agreements and partnerships valued at $87 million.
“I am pleased that so many Israeli and Ontario companies have created partnerships to develop innovative solutions to real-world scientific and technological challenges, ” said Premier Wynne. “Ontario is the ideal location to take innovative ideas from concept to marketplace — we have a competitive corporate tax rate, a strong financial sector and a talented workforce.”
Ontario is a world leader in the life sciences sector and has an expanding knowledge economy and strong culture of innovation. Canada offers the lowest biotechnology research and development costs in the G7 — and Ontario’s corporate income tax rate is lower than the average of other G8 and G20 countries. Many leading companies from Israel already have operations in Ontario, including Teva Pharmaceutical Industries Ltd. and Taro Pharmaceuticals Inc.
