Israel opens new trade office in Shanghai
The trade office, the ministry’s third in China, will assist Israeli companies trying to create a presence in Shanghai.
information-sharing agreement in Tel Aviv Photo: Assaf Shilo/Israel Sun
Industry, Trade and Labor Ministry director-general Sharon Kedmi arrived in
Shanghai on Monday with representatives of nine information-technology
companies, where he was scheduled to open a new Israeli trade office.
trade office, the ministry’s third in China, will assist Israeli companies
trying to create a presence in Shanghai and the surrounding provinces of
Jiangsu, Zhejiang and Anhui.
“We expect that its positioning will buy
added value for Israeli exports to China,” Kedmi said.
Later in the week,
Kedmi will meet with the Chinese minister responsible for hitech in Beijing,
where they will discuss bilateral hi-tech cooperation, including the possibility
of integrating Israeli technology into the activities of electronics giant
Lenovo, automotive group Baic and telecommunications company ZTE.
Israel’s third-largest export destination and second- largest trade partner, is
defined as a priority by the Industry, Trade and Labor Ministry. Trade with
China increased 19 percent to $7.7 billion in 2011, although the trade deficit
reached about $3.11b. Bilateral trade reached $4.82b. in the first seven months
of 2012, an 11% increase compared with the corresponding period last
Last year the ministry and the Treasury launched a multiyear
project worth NIS 100 million, aimed at helping Israeli companies establish
sales offices in China.
The grants committee has approved assistance of
about NIS 40m. so far.