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Israel, Taiwan sign flight agreement

By NADAV SHEMER

JANUARY 2, 2012 19:24

Relations between Israel and Taiwan have expanded rapidly in the past three years, and now the flight time between Tel Aviv and Taipei is set to be cut dramatically after the two countries agreed Monday to establish direct passenger and cargo flights.

The agreement, which was signed at the Taipei Economic and Cultural Office in Tel Aviv, follows the commencement last June of a visa-waiver agreement, and the signing in 2009 of an avoidance of double taxation agreement.

Bilateral trade reached $936 million in the first eight months of 2011, an increase of 17 percent on the same period in 2010. The Taiwanese representative office in Israel believes there is potential for trade to reach $5 billion each year.

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