Economic Affairs Minister Naftali Bennett announced from Beijing on Tuesday that an agreement with Chinese officials was reached to conduct a survey to examine the option of a free-trade policy. After repeated Israeli overtures over two years, the Chinese have only now responded positively .
Trade between Israel and China is worth about $8 billion annually, but a free-trade agreement would considerably boost that figure.
Official figures indicate that Israel’s exports to China in 2012 rose 0.9% to $2.74 billion. Most of the exports are in advanced technology electronics and communications products, and machinery and equipment, and chemicals.
An agreement must be preceded by the survey now agreed upon.