Israel – Japan In Talks To Enter A Free Trade AgreementJapanese Minister of Economy, Trade, and Industry Hiroshige Sekō Makes His Third Visit To Israel
- February 17, 2019
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Japanese Minister of Economy, Trade, and Industry Hiroshige Sekō met Tuesday with his Israeli counterpart.
Israel and Japan are in talks to enter a free trade agreement between the countries reported Calcalist Newspaper. Japanese Minister of Economy, Trade, and Industry Hiroshige Sekō met Tuesday with his Israeli counterpart Eli Cohen at the King David Hotel in Jerusalem. In his third visit to Israel since assuming his position, Sekō is leading a delegation of Japanese officials and businesspeople, including executives from Mitsubishi Corporation, Toshiba Corporation, and Sony.
Trade between Israel and Japan, not including diamonds, amounted to $3.5 billion in 2018, according to the Israeli ministry of economy, an increase of around 20% from 2017. Import from Japan amounted to around $2.35 billion, while export from Israel to Japan reached $1.16 billion, a steep increase from the past decade, which stood at an annual $700 million-$800 million. Overall, Japan is the 11th largest importer of Israeli goods in terms of annual turnover, according to the Israeli Export Institute, and the third largest Asian importer.