Netanyahu, China VP meet: $10 billion and counting

Prime Minister Benjamin Netanyahu outlined the natural business partnership that exists between Israel and China when meeting Chinese Vice President Wang Qishan, Wednesday.

By World Israel News Staff

“The sustained growth of both our countries and both our economies requires two things … It requires innovation and it requires scale,” said Prime Minister Benjamin, stressing each country’s strengths during an official visit by Chinese Vice President Wang Qishan, Wednesday.

“It’s the combination of the two that gives you the greatest effect and the greatest effectiveness. The combination of Israeli technology and innovation with Chinese industry, expertise, innovation and markets is very powerful,” the prime minister said.

Netanyahu expressed his eagerness for a free trade agreement with China, an idea he first broached in 2013. Talks are ongoing.

“China is Israel’s second largest trade partner reaching $10 billion in 2017 and it is already up 30% in 2018,” the prime minister said. “I know for China this isn’t the biggest trading partner. But for us it is very important.”

Qishan is in Israel to co-chair with Netanyahu the 4th Meeting of the Israel-China Joint Committee on Innovation Cooperation, held at the Foreign Ministry in Jerusalem.

Members of 13 Chinese ministries took part in the meeting. Eight joint agreements were signed in the fields of science and technology, the life sciences, innovation, digital health and agriculture.

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Before the meeting, the two men toured the innovation exhibit at which five Israeli companies presented their inventions in the fields of agriculture, medicine, smart transportation, advanced vision technology and artificial intelligence.

“There is a natural partnership between us. We want to expand it for the benefit of both our peoples. We want to expand it for the benefit of all of humanity and I think the opportunities are vast,” Netanyahu said.