Finance Minister Yuval Steinitz and Chinese Finance Minister Xie Xuren signed a
$300 million financial protocol in Beijing Wednesday which aims to boost export
of Israeli water technology for agriculture.
The protocol establishes a
line of credit which will be used exclusively to fund Israeli investments in
China. From a Chinese perspective, it constitutes part of a broader plan to
develop water resources in the barren northwestern part of the
Steinitz said at the signing ceremony that Israel considers the
strengthening of its economic relationship with China as its most important
strategic aim. He added that bilateral trade continued to grow each time the two
ministers meet, and said he hoped this trend would continue.
bilateral trade continues to grow “to our satisfaction,” adding that China
intends to take further steps to ensure its continued
Referring specifically to the protocol, he said Israeli
water-technology companies were integral to the economic relationship between the
The two ministers also discussed the possibility of
exporting natural gas from Israel to China in the future.
interest and told Steinitz that further discussions will be held on the matter.
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