Israel and China ink $300m 'clean-tech' trade deal
AP Photo/Tsafrir Abayov, File
Israel and China have signed a trade deal worth $300m that will give Israeli energy and agricultural firms boosted access to world's most populous nation.
Israeli Minister of Finance Moshe Kahlon inked the deal with his Chinese counterpart Xiao Jie during a visit to Beijing and said the deal would open the door to enhanced co-operation in "clean-tech" fields.
A statement from the finance ministry said the deal "will allow the parties to expand economic activity between the two countries to other environmentally friendly technologies, including advanced agricultural technologies and smart, green energy technologies, which the Chinese government want to adopt using Israeli experience and expertise."
Kahlon said the deal "demonstrates the strength of Israeli industry and its reputation in the world, and we see the economic cooperation with the Chinese government as a strategic goal that will enable Israeli exporters to expand their activities."
Chinese venture capital funds have reportedly tipped billions of investment dollars into Israeli technology firms in recent years.
During a visit to China in March, Israeli Prime Minister Benjamin Netanyahu on Monday told a meeting of businesspeople that his country is Beijing's "perfect junior partner" for improving living standards via technology.
China is Israel's second largest trading partner.
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300M is a picopeanut for China.