Economy Minister Aryeh Deri met on Monday 19 Tammuz for the first time, in his Jerusalem office, with Chinese Ambassador to Israel Zhan Yongxin. The two discussed – inter alia – the establishment of a free trade zone between Israel and China.

Minister Deri stressed Israel’s desire to establish such a zone. The Chinese Ambassador reiterated China’s commitment to begin negotiations for an agreement, as first announced by Chinese Prime Minister Li Keqiang in March in his report to the National People’s Congress.

Both sides stressed their mutual desire to strengthen ties and expand Chinese investments in Israel, which have thus far reached $6 billion. They also agreed that a free trade zone agreement would raise bilateral ties to a new level and bring real economic benefit to both sides.

Deri said, “The Israeli Ministry of Economy concentrates efforts to promote and expand the trade ties between the two countries and to this end operates various tools to support Israeli companies doing business in China, such as dedicated funds for projects in the People’s Republic of China, supporting incoming and outgoing delegations and of course, our trade attachés posted across China.”

The Economy Ministry Foreign Trade Administration, which is expected to lead the negotiations for a free trade zone agreement with China, is making preparations for the talks and is consulting trade and industry officials regarding Israel’s specific interests in the negotiations.

The Foreign Trade Administration operates five trade attachés across China – two in Beijing – including one who focuses on policy and regulation, one in Guangzhou, one in Shanghai and one in Hong Kong. This number is identical to the number of attachés in the United States and the goal is to continue expanding the distribution of trade missions in China.

(YWN – Israel Desk, Jerusalem)