Bloomberg News

Israel’s Steinitz to Visit China to Sign Financial Protocol

February 27, 2012

Israeli Finance Minister Yuval Steinitz will travel to China tonight to sign a financial protocol aimed at boosting sales overseas.

The protocol will help exporters of Israeli water technology for agriculture, Israel’s Finance Ministry said in an e-mailed statement today.

“The upgrading of Israeli economic relations with China and boosting exports to this country are a strategic goal of primary importance for the Israeli economy,” the statement cited Steinitz as saying.

Israel is seeking to boost sales to fast-growing economies such as China (CNGDPYOY) and India as Europe struggles with a debt crisis and global trade slows. Exports account for about 40 percent of Israel’s gross domestic product.

Steinitz visited China in May 2010 with Environmental Protection Minister Gilad Erdan, to help promote economic ties. Erdan said at the time that Israeli companies have “endless” possibilities to sell technology to China, specifically in the areas of water recycling, desalination and solar power.

To contact the reporter on this story: Alisa Odenheimer in Jerusalem at aodenheimer@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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