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Thursday, January 11, 2007

Trade Between China To Increase Triplefold?

Prime Minister Olmert (we'll leave out politics on this post) is predicting that trade between Israel and China will increase three times over within the next three years. Who ever knew that China and Israel were strong economic parters?

(Globes Online) Prime Minister Ehud Olmert today announced the establishment of China-Israel Binational Fund for Investment in High-Tech R&D. "The establishment of this fund, together with the establishment of the joint committee for R&D investment is of extreme importance. These funds will be the catalyst for deepening cooperation," he said.

Olmert predicted that bilateral trade would triple by 2010 to $10 billion a year. Israel-China trade totaled $3.8 billion in 2006, 27% more than in 2005. "China is crying out for Israeli know-how and technology, for example in water," he said. "For China, water is as important as oil, and Israel is the leader in water desalination and recycling technologies. The hydro-technology agreement we signed will be the foundation for fruitful economic cooperation."

Olmert is not making that statement idly, as Israel is constructing a $5 million water purification facility within Inner Mongolia.

Despite living in a desert, Israel is leading the way when it comes to water technology, and have even found a way to fertilize crop from artificial fish farms.

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