An Agreement was Signed to Increase the Financial Protocol Between Israel and China by $400 Million

he protocol is a financial agreement between the two countries that allows an increase in Israeli exports to China using state guarantees to support long-term export transactions. This framework reduces the Israeli exporter’s financing costs which makes Israeli transactions attractive and enables Israel to remain relevant and interesting in the field of international export transactions 

An Agreement was Signed During a Meeting Between Prime Minister Netanyahu and the Prime Minister of China to Increase the Financial Protocol Between the Two Countries by $400 Million 

During a meeting that was held today in Beijing between Prime Minister Benjamin Netanyahu and Li Keqiang, the Prime Minister of China, the Accountant General, Michal Abadi-Boiangiu, signed an agreement with the Chinese Ministry of Finance to increase the financial protocol between the two countries by $400 million dollars. 

To date, the State of Israel, through the Accountant General, has signed three financial protocols with China totaling $1.35 billion. An additional financial protocol for water saving technologies in agriculture totaling $300 million was signed in 2012.  Expanding the scope of the protocol will increase the total financial protocol amount to $2.05 billion. 236 transactions totaling $771 million have been carried out since the signing of a financial protocol with China. In light of the success of the protocol framework export activity and following almost total utilization of the current protocol framework, the Israeli Ministry of Finance and China signed an agreement to increase the amount 
Prime Minister Benjamin Netanyahu: "This is a very important agreement to promote the cooperation between Israel and China. China is a huge market and it will help the Israeli economy significantly if we slightly increase our market share here." 

Accountant General, CPA Michal Abadi-Boiangiu: "The protocol expansion represents the strengthening of economic relations between the two countries in recent years. We have seen that the Chinese approval rate is growing and the number of projects we receive for approval is continually increasing.  We have also noticed new groups using the protocol, partially due to the water technologies agreement we signed. Through the financial protocol, which is an attractive financing cushion, Israeli exporters succeed in dealing with and are awarded major tenders with the Chinese government. This increases the volume of Israeli exports and consequently increases the GDP by increasing employment and tax payments.”

Source: Israel Ministry of Finance