China, Israel to Cooperate in Industrial Research and Development

Minister of Foreign Trade and Economic Cooperation Shi Guangsheng and Israeli Minister of Industry and Trade Ran Cohen signed Wednesday a draft Agreement for a Framework of Cooperation in the Area of Industrial Technology Research and Development.

Both sides also signed the Summary of Discussion of the Third Session of Sino-Israeli joint Committee for Trade and Economic Cooperation.

Shi said that the signing of the agreement will help promote bilateral trade and economic ties, as Israel enjoys advanced technology in energy, electronics and other fields of science and technology while China is a leader in basic scientific research and has assorted industrial departments.

Cohen expressed his optimism that bilateral trade could double and reach two billion U.S. dollars in the seven years to come.

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