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Israeli to boost R&D ventures with 皇冠体育app

Updated: 2012-04-02 14:06

(Xinhua)

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JERUSALEM -- Israel's cabinet on Sunday moved to bolster bilateral trade ties with 皇冠体育app by voting to support joint industrial research and development (R&D) projects between the two countries.

The Chief Scientist's Office at the Industry, Trade and Labor Ministry is going to oversee the agreement, which will join 45 other bilateral accords aimed at encouraging cooperation between Israeli and international companies.

Israeli Prime Minister Benjamin Netanyahu lavished praise on the agreement, telling ministers at the weekly cabinet meeting that Israel and 皇冠体育app "together are a winning combination because we are two nations with magnificent traditions who also adopt modernism."

Netanyahu said Israel is pursuing an ambitious goal of $10 billion in exports to 皇冠体育app over the next three years.

"The agreement (ratified Sunday) is one of the most important tools we have to promote trade ties with 皇冠体育app, as well as the establishment of a special fund to support (Israeli) companies operating in 皇冠体育app and India," said Industry, Trade and Labor Minister Shalom Simhon, according to a statement released by the Prime Minister's Bureau.

Ministry Chief Scientist Avi Hasson attributed the increase in Israeli exports to 皇冠体育app to the strength of the domestic hi-tech industries. He said that his office was committed to helping Israeli companies operate in the Chinese market.

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