Israel and China sign $400 million trade agreement

( Israeli and Chinese officials signed a $400 million trade agreement during meetings on Wednesday, expanding annual trade between the two nations to $2.05 billion.

Israeli Prime Minister Benjamin Netanyahu, pictured, signed a new $400 million trade agreement with China on Wednesday.

The agreement was signed by the Israeli and Chinese finance ministers during a meeting attended by Israeli Prime Minister Benjamin Netanyahu and Chinese Prime Minister Li Keqiang.

“This is a very important agreement for expanding bilateral cooperation. China is a vast market, and if we even slightly increase our market share here it will significantly help the Israeli economy,” Netanyahu said, according to the Prime Minister’s Office.

Netanyahu also held a live video-chat with millions of Chinese Web surfers on Xinhuanet, China’s official news agency. Most of the questions revolved around Israel-China relations. Netanyahu told the online participants that he was “impressed by the development, progress and tremendous growth” of China since his last visit to the country in 1998.

Israel and China first established relations in 1992. Since then trade between the two countries has rapidly expanded, with China becoming a major purchaser of Israeli high-tech, military and agricultural goods and services. 

Posted on May 8, 2013 .