By Daniel Hunter

Prime Minister David Cameron has welcomed more than £70 million of investment into the UK following his visit with Trade and Investment Minister Lord Livingston to Israel and the Palestinian Territories.

The investment, which will create hundreds of UK jobs, included:

- A £50 million commitment by Israel’s Noy Infrastructure and Energy Investment Fund to the UK’s renewable energy sector.

- A £12 million investment by Israeli pharma company Teva in clinical development in the UK and a pledge of an additional £600,000 to support research into dementia, re-affirming support to the Prime Minister’s Dementia Challenge.

- A £10 million investment by Israel-based AposTherapy in the UK in the next three years, creating hundreds of UK jobs.

- A 17-strong business delegation joined David Cameron and Trade and Investment Minister, Lord Livingston, to explore the increasing opportunities in information and communication technology, healthcare, energy and security sectors.

Lord Livingston said:

“These announcements are testament to how the UK and Israel work successfully together. UK exports have grown steadily and we are now the third largest exporter to Israel and there are now over 250 Israeli companies operating in the UK.

“There is huge potential to increase trade and investment with Israel and the Palestinian Territories. I look forward to building on this success with the work of UKTI.”

On Thursday Lord Livingston joined the Prime Minister and Israeli Prime Minister Benjamin Netanyahu at Teva to discuss future collaboration with Israel and the opportunities for both UK and Israeli companies especially in innovation and technology.

Lord Livingston then went on to East Jerusalem to meet the Palestinian Deputy Prime Minister Dr. Mohammed Mustafa and the East Jerusalem-based Office of the Quartet Representative to discuss the Initiative for the Palestinian Economy (IPE) on how to encourage Palestinian economic growth.The Prime Minister also set out further UK support to create business opportunities and jobs in the Palestinian territories.

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