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Prime Minister of Israel Ehud Olmert finished his recent trip to China with an agreement for the two countries to join together to enhance water technology in both places.
Boaz Hirsch, director of foreign trade for the Ministry of Industry, Trade and Labor in Israel told the Jerusalem Post that the Chinese government plans to present 11 projects in the next five years to build a water saving company and recycling. This means China will hold a lot of potential for Israeli companies.
During the trip to China, Hirsch signed a cooperation agreement with the Ziyu Zizung, the director general of the Beijing Water Authority, in order to advance projects in the water-tech sector.
The Ministry reported to the Jerusalem Post that the deal gives Israeli companies the opportunity to interact with customers and relevant partners in China. This will include planned learning trips by Beijing water officials to Israel and biennial business seminars and meetings between companies from the two countries in the water sector. The agreement also placed a strong emphasis on research and development cooperation between the two sides.
This agreement came to pass after Minister Olmert and Chinese Prime Minister Wen Jiabao signed a series of trade agreements that open China to $50 million in Israeli citrus exports and provide for Israeli engineers to help Beijing's city government with a water purification project.
Israel and China also agreed to create a joint fund for research and development in a variety of fields, including hydro-technology.
Olmert, is the first prime minister to visit China in almost a decade, and hopes to help local companies sell more products to the world's fastest-growing major economy.