Shenzhen could be a big market for Israeli innovation, Israel s Minster of Industry, Trade and Labor Binyamin Ben Eliezer told the Shenzhen Daily on Thursday.
Eliezer completed a five-day visit to China by a government delegation Thursday. It was his first visit to Shenzhen.
Israel can offer the best technology in almost every sector while Shenzhen can provide for the application of Israel s cutting-edge technology, he said.
To illustrate his point, he cited Israel s successful cooperation with Egypt in the development of solar energy.
We told Egypt give us space and we can give you technology, we can produce electricity together, he said.
A combination of technology, knowledge and marketing will result in a win-win situation, he said.
Meanwhile, Shenzhen enterprises such as ZTE and Huawei were encouraged to establish joint ventures with Israeli enterprises.
It has not been just one-time investment by foreign companies in Israel and many had chosen to buy Israeli enterprises, not for market share but for technology in Israel, one of the world s eight leading countries in innovation, according to Danny Tal, commercial consul of the Consulate General of Israel in Guangzhou.
The minister said, however, there were still barriers for Israeli investment in China, including bureaucracy and double taxation.
He called for full government support for overseas investment.
When asked to comment on China s controversial insufficient protection of intellectual property rights, Eliezer said time will solve it.
Israel and China were considering setting up a bi-national fund to support mutual investment for the two countries, according to the Consulate General of Israel in Guangzhou.
Shenzhen and Israel signed a memorandum Wednesday to continue with a subvenue of the 2011 China Hi-Tech Fair in Israel.
Israel will open a national booth at the sub-fair of the 2011 Hi-Tech Fair, according to the consulate.
(By Martin Li)
