China – Israel, Why China is interested fostering economic relationships with Israel ?


China – Israel, Why China is interested fostering economic relationships with Israel ?

A convergence of commercial interests have led the People’s Republic of China and the State of Israel to develop an increasingly integrated bilateral economic partnership that is poised to flourish over the next decade. Bilateral trade has experienced a 200-fold increase since diplomatic ties were formally established in 1992, surging from $50 million to $10 billion in 2013, with plans to double that figure in the next few years; leading Gao Yanping, China’s ambassador to Israel, to enthusiastically exclaim “Our relations are shining with new luster in the new era.”

One of the striking issues that characterizes Beijing’s relations with the region is that it has good relations with all parties. China’s ties with Iran, Turkey, and the Arab world are growing rapidly. Today, China is the largest exporter to the Middle East, Saudi Arabia’s top trade partner in West Asia, the biggest importer of Iranian oil, the major player in the Iraqi oil game and a rising star in the Turkish economy. At the same time, China has been the top market for Israeli exports in Asia.

This convergence of economic interests has served to greatly enhance bilateral Sino-Israeli diplomatic and cultural ties, while fostering a burgeoning commercial partnership that has positioned Israel as a small, yet pivotal, partner for China, a relationship that is poised to blossom in the years to come.

Source: itrade.gov.il

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