PM Olmert Thursday announced the establishment of China-Israel Binational Fund for Investment in High-Tech R&D. “The establishment of this fund, together with the establishment of the joint committee for R&D investment is of extreme importance.
These funds will be the catalyst for deepening cooperation,” he said.
Olmert predicted that bilateral trade would triple by 2010 to $10 billion a year. Israel-China trade totaled $3.8 billion in 2006, 27% more than in 2005. “China is crying out for Israeli know-how and technology, for example in water,” he said.
“For China, water is as important as oil, and Israel is the leader in water desalination and recycling technologies. The hydro-technology agreement we signed will be the foundation for fruitful economic cooperation.”
As well on Thursday Olmert announced plans to open a third Israeli consulate in China in the city of Guang Do. The prime minister wrapped up his three-day official visit to China on Thursday, marking 15 years since the establishment of diplomatic relations between the two countries.
Olmert was told by President Hu Jintao that Israel was a close friend of the Chinese.
These funds will be the catalyst for deepening cooperation,” he said.
Olmert predicted that bilateral trade would triple by 2010 to $10 billion a year. Israel-China trade totaled $3.8 billion in 2006, 27% more than in 2005. “China is crying out for Israeli know-how and technology, for example in water,” he said.
“For China, water is as important as oil, and Israel is the leader in water desalination and recycling technologies. The hydro-technology agreement we signed will be the foundation for fruitful economic cooperation.”
As well on Thursday Olmert announced plans to open a third Israeli consulate in China in the city of Guang Do. The prime minister wrapped up his three-day official visit to China on Thursday, marking 15 years since the establishment of diplomatic relations between the two countries.
Olmert was told by President Hu Jintao that Israel was a close friend of the Chinese.