Israeli exports to Japan grew by 32% in 2004 to $765 million; imports grew by 44% to $1.5 billion.
Japanese companies are very interested in expanding collaboration between Japan and Israel in biotechnology, says Noah Shani Minister, Economic Affairs at the Israeli Embassy in Tokyo. The embassy's economic department and the Osaka-Israel Chamber of Commerce arranged a meeting of Japanese and Israeli companies last week. At the meeting, companies were shown the mutual advantages of expanding bilateral R&D activities, Israeli innovations in biotechnology and nanotechnology, and possible ways for cooperating in the establishment of new ventures.
Japan is Israel's second largest trading partner in Asia. Bilateral trade reached $2.25 billion in 2004. Israeli exports to Japan grew by 32% in 2004 to $765 million, and imports grew by 44% to $1.5 billion.
Israel's main exports to Japan are machinery and mechanical and telecommunications equipment (34%), medical and optical equipment (25%, following a 60% increase in exports), diamonds and precious stones (19%), and chemicals products (9%). Diamond exports have been declining, while exports of high-tech and telecommunications equipment have been rising. Israel's main imports from Japan are vehicles (43%), machinery and mechanical equipment.
Published by Globes [online], Israel business news - www.globes.co.il - on March 7, 2005