Israel exported approximately $1 billion worth of water or water-related products in 2006, and the Ministry of Industry, Trade and Labor said Sunday it has set a goal to double that amount by 2010. "Israel's water-related production has the potential for great growth, and just like we have seen our hi-tech sector grow out of military use into everyday use and become our greatest export, our water production technology has the potential to tap into new markets around the world," said Minister of Industry, Trade and Labor Eli Yishai. Ahead of World Water Day on Thursday, the ministry convened a meeting of various government offices, agencies and academic institutions in which the advancement of Israel's water production and water industry and the exportation of the country's water-related technology were the primary subjects under discussion. A survey commissioned by the ministry revealed that the world market for water technology has grown 10% in each of the past five years, and is expected to be a $600b. a year market by 2008. Over the last few months, Israel has hosted water-industry leaders and experts from China, Spain and Singapore interested in learning more about the country's water technology. Over the next year, the ministry plans to heavily marketing Israel's water industry around the world, beginning with a new promotional video, as well as an updated Web site showcasing the industry. World Water Day is an initiative that grew out of the 1992 United Nations Conference on Environment and Development (UNCED) in Rio de Janeiro and has been observed every March 22 since 1993. This year's theme is "Coping with water scarcity," and countries around the world will be holding events and conferences relating to the theme.