Prime Minister Ehud Olmert today announced the establishment of China-Israel Binational Fund for Investment in High-Tech R&D. “The establishment of this fund, together with the establishment of the joint committee for R&D investment is of extreme importance. These funds will be the catalyst for deepening cooperation,” he said.
Olmert predicted that bilateral trade would triple by 2010 to $10 billion a year. Israel-China trade totaled $3.8 billion in 2006, 27% more than in 2005. “China is crying out for Israeli know-how and technology, for example in water,” he said. “For China, water is as important as oil, and Israel is the leader in water desalination and recycling technologies. The hydro-technology agreement we signed will be the foundation for fruitful economic cooperation.”
Olmert was calmer today than yesterday, when he learned about reports in the Israeli media the he would be questioned upon his return on various scandals he is allegedly involved in. During a visit to the Forbidden City, which was cleared of tourists for the occasion, Olmert seemed almost haughty.
Commenting on talks with Chinese leaders about Iran’s nuclear program, Olmert said, “The Chinese response to our request was unexpectedly favorable. Iran is making every effort to build an atomic bomb, and I hope that international efforts will prevent this. China made it unequivocally clear that it opposes a nuclear Iran.” Sources at the Prime Minister’s Office believe that China fully understands the global destablization that a nuclear Iran will cause.
Olmert met Chinese President Hu Jintao today and will return to Israel tonight.
Prime Minister’s Office director general Raanan Dinur and Ministry of Industry, Trade and Labor bilateral trade agreements division director Boaz Hirsch are holding meeting on economic matters. They are meeting heads of China Telecom, the country’s largest cellular operator, to interest them in cooperating with Israeli telecommunications equipment companies.
Published by Globes [online], Israel business news - www.globes.co.il - on January 11, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006