Israel unveils plan to boost trade with China

JERUSALEM, May 21 (Xinhua): An Israeli ministerial committee announced Wednesday a comprehensive action plan to expand bilateral economic ties with China, aiming to double Israeli exports to Asia's fastest growing economy within five years to about US$5.0 billion annually.

The plan was approved a day after Israel and China signed three major agreements, which were defined by Israel's Economy Ministry as "a significant milestone in Israel-Sino relations."

Under the plan drafted by the Ministerial Committee on China Affairs, the government will allocate 49 million shekels (about $14 million) a year to the programme.

It includes government recognition for wide-ranging business projects that will be implemented with Chinese organisations specialising in knowledge-intensive industries, agriculture, environmental protection, energy, water technology and health.