Representatives from the China International Import Expo (CIIE) and the Chinese Embassy in Israel hosted local Israeli business owners at Tel Aviv’s Carlton Hotel on Thursday to encourage them to join the 2020 convention, The Jerusalem Post reported.

Almost 4,000 enterprises and more than 400,000 participants will attend the upcoming CIIE taking place from Nov. 5-10 inside Shanghai’s National Exhibition and Convention Center. The expo is hosted annually by the Chinese government.

“In today’s globalized economy, it is not about developing and going forward by ourselves—developing is about holding hands and developing together,” Dai Yuming, deputy chief of mission at the Chinese Embassy, told those who attended on Thursday. “The friendship between the Chinese and Israeli people is long-lasting. Since the establishment of diplomatic relations, the economic and trading cooperation between China and Israel has developed more than any other field.”

Exhibitors and exhibits hoping to participate in CIIE must originate from outside China, according to The Jerusalem Post. The report added that foreign companies already manufacturing products in China cannot present at the conference, and standard booths in the 5.3-million-square-feet exhibition hall cost $3,000 per 96 square feet.

Some exhibition halls at CIIE are reserved exclusively for fields such as the automotive industry, medical-equipment technologies, food products and consumer goods.

Major Israeli companies that have previously participated in the expo include digital health-care firm G Medical Innovations; air-to-water technology company Watergen; and skin-care manufacturer Christina Cosmeceuticals.

Bilateral trade between Israel and China reached approximately $14 billion in 2018, and about 22 percent of all Israeli exports now head to Asia, according to The Jerusalem Post.

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