The cabinet approved, Sunday, an agreement to support joint industrial research and development projects with China. The agreement is one of 45 agreements with international companies being executed by Chief Scientist Avi Hasson at the Ministry of Industry, Commerce and Trade.
Hasson said that Israel's exports to China grew more thatn 30 percent in the last year, primarily because of Israel's strength in technology. Prime Minister Binyamin Netanyahu said that those imports must reach $10 billion in three years, and that he will promote the matter when he goes to China, in June. Industry, Commerce and Trade minister Shalom Simchon said that China is Israel's most important trading partner, next to India, adding that Israel is working on a free-trade agreement with China.