China has become Israel’s third largest trading partner.
JEWISH BUSINESS - MAY 18, 2015
China’s investments in Israel are moving beyond start-ups and the
high-tech sector. As Israel joins the China-led Asian development fund
(AIIB), the bilateral trade relationship is emerging into a broader
regional partnership. From a meager $50 million in the early 1990s,
trade between the two countries has risen to $11 billion. Today China is
Israel’s third largest trading partner.
In recent months, Israeli agriculture trade fairs like Agrivest and
AgriTech have witnessed large Chinese delegations and greater
participation from Chinese state-owned and private players. China’s
Rising consumer demand and increased pressure on agricultural land has
prompted the Asian giant to increasingly look at Israeli agriculture
technology to boost crop yields and dairy production. Last year, China
and Israel decided to set up an agriculture technology incubator in
Anhui Province, China – enabling joint development of agriculture
technologies and solutions in keeping with requirements on the ground.
In March, Israel joined China’s newly constituted Asian
Infrastructure Investment Bank (AIIB), becoming a founding member of the
institution.
This regional lending institution will have an initial authorized
capital of $100 billion and will invest in projects throughout Asia.
China will provide 50 percent of the capital. The fund would open
opportunities for Israeli companies to partner in infrastructure
projects in Asia.
Israel resisted the initial pressures from the Obama administration, urging it to refrain from China-led fund.
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