Israel and China signed a $300 million agreement on green, smart
energy and environmentally friendly technologies and advanced
agricultural technologies, Israel's Ministry of Finance announced on
Monday.
The agreement inked in Beijing involves the increase in exports of clean-tech products from Israel to China, the ministry said.
Israel's
Finance Minister Moshe Kahlon was in Beijing to sign the “clean-tech”
deal that builds on past agreements, the press release said.
The
agreement demonstrates the strength of Israeli industry and its
reputation in the world, and the strengthening of economic cooperation
with the Chinese government, Kahlon remarked in the press release.
The
ministry proclaimed that the agreement's financial protocol allows for
rapid infrastructure for the implementation of export transactions from
Israel to China, through the State's Foreign Trade Risks Insurance
Guarantee.
Through the protocol, Israeli banks through long-term
credit will finance Chinese importers who purchase equipment from
Israeli exporters, with the backing of State guarantees approved by the
Israeli Accountant General, according to the press release.
The guarantee enables Israeli exporters to successfully compete in world markets.
Since
its first signing in 1995, more than 320 transactions have been carried
out within the framework of the Protocol, totaling more than $1.75
billion in the areas of health, agriculture, education and more, the
press release showed.
(Anadolu Agency)