The trade office, the ministry’s third in China, will assist Israeli companies trying to create a presence in Shanghai.

Israel opens new trade office in Shanghai

By NADAV SHEMER

The trade office, the ministry’s third in China, will assist Israeli companies trying to create a presence in Shanghai.

 

Photo: Assaf Shilo/Israel Sun

 

Industry, Trade and Labor Ministry director-general Sharon Kedmi arrived in Shanghai on Monday with representatives of nine information-technology companies, where he was scheduled to open a new Israeli trade office.

The trade office, the ministry’s third in China, will assist Israeli companies trying to create a presence in Shanghai and the surrounding provinces of Jiangsu, Zhejiang and Anhui.

“We expect that its positioning will buy added value for Israeli exports to China,” Kedmi said.

Later in the week, Kedmi will meet with the Chinese minister responsible for hitech in Beijing, where they will discuss bilateral hi-tech cooperation, including the possibility of integrating Israeli technology into the activities of electronics giant Lenovo, automotive group Baic and telecommunications company ZTE.

China, Israel’s third-largest export destination and second- largest trade partner, is defined as a priority by the Industry, Trade and Labor Ministry. Trade with China increased 19 percent to $7.7 billion in 2011, although the trade deficit reached about $3.11b. Bilateral trade reached $4.82b. in the first seven months of 2012, an 11% increase compared with the corresponding period last year.

Last year the ministry and the Treasury launched a multiyear project worth NIS 100 million, aimed at helping Israeli companies establish sales offices in China.

The grants committee has approved assistance of about NIS 40m so far.