Israel and China Begin Talks on Bilateral Free Trade Agreement

While enemies of the Jewish state promote Boycott, Divestment and Sanctions (BDS), Israel – world renown for its cutting-edge innovation – continues to forge meaningful alliances and trade agreements around the world, this time with China.

Prime Minister Benjamin Netanyahu and Chinese Vice Premier Liu Yandong declared the opening of talks on a bilateral free trade agreement, a significant step in relations between Israel and China.

“I was delighted to hear today from Vice Premier Liu that China is prepared to begin free trade agreement negotiations with Israel. This is a momentous development and we are ready to do so right away,” Netanyahu stated Tuesday, where the two leaders opened the second meeting of the 2016 Israel-China innovation conference in Jerusalem.

“We have so much that we can do together,” Netanyahu said. “We discussed the various fields in which this can happen – in health care, in remote education, in agriculture, in marine agriculture, in IT. In every field of human endeavor, the cooperation between Israel and China can yield enormous results. And we believe that Israel can be a perfect partner.”

Yandong said that China was pleased to begin talks on a free trade zone and that her country is ready to cooperate for the benefit of both peoples. Israel and China are heading toward major joint projects, she added, noting that Israel is known throughout the world for its innovation.

In a press release, Netanyahu’s media adviser explained the significance of the talks, stating:

* When the trade agreement takes effect, it could double bilateral trade (currently around $8 billion);

* This agreement will include trade in goods and services, as well as economic and technological cooperation;

* The free trade agreement could increase GDP in both countries;

* The agreement will cause an increase in investments and lead to significant economic benefits for both countries;

* This agreement constitutes a very significant step in bilateral economic relations.

As well, the press release continued, the future trade agreement between China and Israel will deal with many issues, including the removal of impediments to trade, meaning that Israeli exports to China will benefit from easier entry to China and vice-versa.

The agreement will also enable the lifting of impediments in the fields of standardization and regulation.

By: United with Israel Staff
(With files from the GPO)