Following a meeting this month between the Israeli Minister of Economy and Industry Eli Cohen and the Japanese Minister of Economy, Trade and Industry Hiroshige Seko, the two signed agreements to promote economic cooperation between Israel and Japan in a joint ceremony.
The first is a joint statement calling for increased cooperation between Israeli governmental bodies, economic organizations and companies with Japanese companies in a variety of fields. One of the key achievements in the statement is the establishment of a body that will unite relevant economic organizations in Israel and in Japan and upgrade joint economic activity, primarily in the fields of advanced industries, including: artificial intelligence, robotics, IoT, autonomous driving and more.
In addition, the ministers signed an agreement of cooperation in the field of cyber-security. The agreement calls for increased investments and joint activity in this field, establishes joint training programs and joint work seminars, and calls on Israeli experts to contribute to a new cyber-security center of excellence being established in Japan, and more.
Noa Asher, Israel Trade Representative in Japan, said: “Over the past three years, we have led more than 60 joint economic initiatives with various Japanese governmental bodies – business delegations, visits by senior officials, participation in expos and more. I expect the establishment of the new entity will enable additional economic activities such as: the establishment of beta sites for Israeli companies in Japan, joint viability surveys and more. These activities will lead to a rise in Israeli exports to Japan and increased cooperation between Israeli and Japanese companies.”
According to Israel’s Central Bureau of Statistics, trade of goods between Israel and Japan reached a sum of $3 billion in 2016, with Israeli exports to Japan reaching $700 million. Israeli exports to Japan are varied and include optical and medical devices, machinery, electrical equipment and chemicals. Import of goods from Japan reached $2.6 billion in 2016. The leading sectors include: machines and mechanical devices, computer equipment and automotive vehicles.