Cabinet ratifies economic agreement with China

Trade and Labor minister calls deal a step towards free-trade agreement; PM hopes for $10 b. exports in 3 years.

By
April 1, 2012 17:08
1 minute read.
China.

Window on China 521. (photo credit: Courtesy)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The cabinet on Sunday ratified an agreement that is set to expand bilateral research and development projects between Israel and China.

The 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.

Be the first to know - Join our Facebook page.


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 end."

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."

He 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."

JPOST VIDEOS THAT MIGHT INTEREST YOU:


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 industry."

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection

By GLOBES, NIV ELIS