The Israeli high-tech industry was the first to benefit from the peace process. But the Israeli economy, which had just undergone a process of liberalization and privatization, had already seen significant growth before the peace talks started in Oslo.
Thanks to US investment in civilian and military industry over 30 years, and free trade agreements Israel included with USA and with the EU. For Israel, the Oslo process was a period of prosperity; foreign because they achieved their views through diplomacy, and domestic because they experienced economic growth.
In 1995, well over a year after the peace agreement in Oslo, Israeli investment abroad rose by 46 percent; a growth rate that lasted for the next three years.
Until it all stopped abruptly three years into Benjamin Netanyahus reign, and then rose again until in 2000 they accounted for seven per cent BNP. Between 1993 and 1998, exports of high-tech products rose annually by 15 per cent. Thanks to the lifting of both the second and third Arab boycotts in 1994, there were many doors. . .
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