Despite the escalating crisis in Gaza and threats to bilateral relations, Israel’s ambassador to China urges entrepreneurs to step up investments in the country, especially in emerging sectors such as food technology. I called on them to do so.
Irit Ben Abba Vitale said at a New Year’s celebration in Shanghai earlier this week that Israel’s economy remains strong despite the deadly conflict with Islamic militant group Hamas, and more He said Chinese investors would be welcomed.
“Our economy is very resilient, and we hope that all companies that are involved in investment, trade, or any economic activity in Israel will continue to operate,” he said at the China-Israel Innovation Hub. He made the remarks during a meeting with Israeli diplomats, the business community and the media. on tuesday.
Chinese companies have been encouraged to invest more in areas such as food technology, energy, climate technology and life sciences, as the Middle East country’s Innovation Agency earlier this week approved a 2024 budget that focuses on these areas, Vitale said. he said.
“We are very interested in collaborating with China on all these emerging technologies,” she said. “Israel may not be a big market for China, but any market is a good market these days.”
Vitale said that despite the COVID-19 pandemic, 2022 will be the “best year” for bilateral trade between China and Israel, with total sales reaching USD 25.45 billion, an 11.6% year-on-year increase. He said he did.
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Xi Jinping calls for ceasefire in Gaza, says two-state solution is the only option for lasting peace in the region
Xi Jinping calls for ceasefire in Gaza, says two-state solution is the only option for lasting peace in the region
Over the next decade, economic ties deepened, with China’s direct investment expanding, particularly in Israel’s advanced technology and infrastructure.
Vitale said the country spends 5.6% of its gross domestic product on research and development, twice the average for Organization for Economic Co-operation and Development countries.
Trade volume, mainly due to Israel’s imports of goods from China, more than doubled from US$7.6 billion in 2013 to US$16.5 billion in 2022, according to Chinese government data.
Beijing has long sought to take a balanced position on the Israeli-Palestinian issue by supporting Palestinian statehood while maintaining strong economic ties with Israel.
We want China to support Israel, but unfortunately if you look at Chinese social media in recent weeks, it has been very critical of Israel.
However, China’s failure to condemn Hamas, criticism of Israel over the worsening humanitarian crisis in Gaza, and some anti-Israel comments on Chinese social media have contributed to tensions between China and Tel Aviv. It’s making it worse.
Vitale said Israel is facing its most difficult period.
“We want China to support Israel, but unfortunately if you look at Chinese social media in recent weeks, it has been very critical of Israel,” she added.
Despite these points of tension, there is still a strong desire in the business community to cooperate with China, she added.