Economic conference with Israel opens

The ninth Taiwan-Israel economic and technological cooperation conference opened in Jerusalem yesterday, with representatives from the public and private sectors of the two countries in attendance, an official with the Ministry of Economic Affairs told reporters.

Vice Minister of Economic Affairs Hsieh Fa-tah (謝發達), who led the Taiwanese delegation, said he would discuss issues concerning bilateral cooperation in the fields of high technology development and information security with his Israeli counterpart during the two-day ministerial-level meeting.

Israel excels at high-tech innovation, research and development, while Taiwan has a solid foundation for high-tech product manufacturing and marketing, the official said, adding that the two countries should make the most of such complementary advantages and explore various emerging markets in Southeast Asia, Eastern Europe and Central and South America.

Two-way trade between Taiwan and Israel amounted to around US$1.02 billion for the first 11 months of last year, according to official statistics. Taiwan's exports to Israel totaled US$427 million, while imports from Israel reached US$596 million.

Meanwhile, the cumulative amount of investment by Taiwan-ese manufacturers in Israel as of the end of November had reached US$31.34 million, mainly in the high-tech, electronics and machinery sectors, while Israel recorded a total investment of US$18 million in Taiwan.