Window on China 521.
(photo credit: Courtesy)
The cabinet on Sunday ratified an agreement that is set to expand
bilateral research and development projects between Israel and China.
agreement will be overseen by the Chief Scientist's Office, and is one
of 45 bilateral agreements that the office is promoting to increase
joint economic activity with China.
Trade and Labor Minister
Shalom Shimhon commented on the agreement, saying that it "is one of the
most important tools available to promote trade ties with China, and
includes the establishment of a special fund to support [Israeli]
companies operating in China and India."
Shimhon also stated that "China is one of the most important countries in terms of relations with Israel, together with India."
Speaking of the future of Sino-Israeli relations, Shimhon stated that
"we are in the process of negotiating a free-trade agreement with China,
and this agreement is another step that we are taking towards that
Speaking at the cabinet
meeting, Prime Minister Binyamin Netanyahu said that "we are hoping to
reach our target of $10 billion in exports to China within three years."
added that "in June, I will travel to China to promote this issue.
Israel and China together is a winning combination because we are two
peoples with magnificent traditions but that have also adopted the
fundamentals of modernity."
Trade and Labor Ministry Chief Scientist Avi Hasson said that "Israeli
exports to China have increased by more than 30 percent since last year,
primarily due to the strengthening of the domestic technological