(A7) In an attempt to lower the cost of living and increase competition, Finance Minister Bezalel Smotrich has turned to wholesale giant Costco to request it enters the Israeli market.
In a letter obtained by Israel National News addressed to Cosco CEO Walter Jelinek and Chairman of the Board Hamilton James, the minister writes: “The government of Israel has set for itself several objectives, one of which is to reduce the cost of living and increase competition in the Israeli retail food market.”
Smotrich states that the government believes inviting global companies to enter the local market is a significant way to do so.
“Given your scale, leadership, and global activity in the field of food retail, we would like to interest you to enter the Israeli market,” the letter continues.
“We view that as a mutually beneficial opportunity for both your company, which will gain presence in a new attractive market, and for the people of Israel, who will enjoy a reduction in the cost of living through increased competition,” the minister concludes, adding that he will be happy to discuss the matter on his next trip to the US.