Israel and China on Thursday agreed to establish a joint committee that will be tasked with formulating a five-year plan on bilateral trade relations.
Industry, Trade and Labor Ministry director-general Sharon Kedmi and Chinese Deputy Minister of Commerce Jiang Yaoping confirmed the committee’s creation during a meeting in Beijing. The two also discussed the feasibility of establishing a free-trade agreement.
Ambassador to China Matan Vilna’i and two trade attaches will represent Israel on the committee. Their work will concentrate on specific sectors in which there is huge potential for trade and business cooperation.
“China is known for its federal and regional five-year plans and for its impressive implementation of them,” Kedmi said in a press statement.
“Through our long-term vision, we are happy to formulate – together with our Chinese friends – a strategic and operational program for developing and strengthening trade relations.