Israel and Japan are advancing their innovation cooperation as part of a drive to expand their $3.3 billion commercial relationship.
Israeli Economy Minister Nir Barkat met this week in Tel Aviv with his Japanese counterpart Yasutoshi Nishimura to sign an agreement formalizing a bilateral “understanding of economic and innovation ties.”
The signing followed a series of discussions between Barkat and senior Japanese officials, including the digital transformation minister and finance minister.
“There’s vast potential for Japanese businesses to invest in Israel and enhance trade with one of the world’s leading economies,” said Barkat.
“The persistent strengthening of our trade relations in recent years is a testament to the mutual commitment to pushing our economies forward,” he said.
“My ambition is to deepen the bond between Israel and Japan, recognizing the massive untapped potential, and I am keen on collaborating closely with Minister Nishimura to achieve this.”
Barkat also announced an official visit to Japan next month, during which he will lead an Israeli business delegation and meet Japanese government officials and business representatives.