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Local trade officials believe Shanghai and Israel will build closer business ties after the visit of Israel's Deputy Prime Minister Ehud Olmert to the city on Thursday.
It is also expected that companies in both places will collaborate on more projects.
One of the latest such collaborations is the partnership agreement between the Israeli RAD Data Communications (RAD) and Shanghai Posts and Telecommunications Equipment Company (SHPTE), which is owned by China Putian Corporation.
The agreement will enable SHPTE to integrate RAD's products in the solutions it offers its customer.
Sun Liang, the executive vice president of SHPTE, says he thinks it is a win-win game for both companies.
"The cooperation with RAD will substantially improve SHPTE's services offering to the major customers such as China Telecommunication, China Mobile," he said.
Sun said that RAD is one of the world's leading manufacturers of high quality access equipment for data communications and telecommunications applications.
Dario Zipris, vice president of Sales at RAD said that SHPTE has a crucial role among Putian Corporation companies and in China's complementary solutions and synergies in R&D.
Rosanna Su, sales manager of RAD East China Regions added that "after the gearing-up process between the two companies, RAD will realize at least US$1 million sales each year via the partnership with SHPTE."
Sun Liang said that the two companies are now developing new products together for major Chinese telecom operators, rail service providers and energy departments.
Olmert believes there will be more cooperation between Israeli and Shanghai businesses in the near future.
He is leading top-level executives of more than 120 Israeli companies from sectors such as venture capital, IT, telecom, IC, medicine, infrastructure and energy, to seek more opportunities to collaborate with local businesses.
Li Liangyuan, the deputy secretary-general of Shanghai municipal government, said that economic cooperation between Shanghai and Israel is increasing at tremendous speed.
The trade volume for this year's first four months between Israel and Shanghai has amounted to US$140 million, with a 51 percent increase rate over the same period last year.
At present, Israeli companies have invested in more than 20 projects in Shanghai with a contractual investment of US$15,420,000.
(China Daily June 25, 2004)
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