On Tuesday, the Israeli Prime Minister Benjamin Netanyahu stated about the beginning of free trade zone negotiations between the two countries. Israeli Prime Minister Benjamin Netanyahu and Chinese Vice Prime Minister Liu Yandong said about their mutual plans before the meeting in Jerusalem within the forum between Israel and China.
In particular, Prime Minister Benjamin Netanyahu said the following:
"I welcome the launch of negotiations on a free trade agreement with China. This will be profitable for the citizens of both Israel and China, for improvement of exports, trade and economy of the two countries. Today I was very glad to hear from Vice Premier of China about his readiness to start negotiations on free trade with Israel. This is a very important step and we are ready to do it immediately."
The free trade agreement could double turnover between Israel and China, which currently stands at eight billion dollars. The agreement will include trade, exchange of services, and cooperation in the field of economy and technology.
The free trade agreement could contribute to the growth of GDP in both countries. The successful implementation of this contract will lead to an increase in the number and volume of investment and, as a consequence, to significant progress in the economy of both countries.