JERUSALEM Feb 29 Israel on Wednesday
signed a deal to sell China water technology valued at $300
million for use in the agriculture sector, the Israeli Finance
Ministry said in a statement.
The deal was signed by both countries' finance ministers in
Beijing during a visit to China by Israeli Finance Minister
Israel is a world leader in water technology products and
has pioneered drip irrigation that was developed for arid Middle
Eastern conditions. No details of the companies or technology
involved in the deal were in the statement.
It has been increasing its exports to China in recent years
as its two largest trading partners, Europe and the United
States, have been in the throes of an economic slowdown.
"Israel considers the deepening of economic ties with China
to be a very important strategic target for both countries,"
Steinitz saud in the statement.
The statement also said officials from the two countries had
discussed possible natural gas exports by Israel to China and
that Chinese Finance Minister Xie Xuren said "talks would begin
soon", although it gave no more details.
Israel has made several huge offshore natural gas discoveries
over the past three years that will ensure its energy
independence for decades and even make it an exporter, although
the first field will be online in the second quarter of 2013.
(Writing by Ori Lewis; editing by Keiron Henderson)