TEL AVIV (Dec. 22)
An Israeli company has signed a deal with a Chinese company to produce and sell air conditioners in the People’s Republic of China.
Under the terms of the agreement, the two companies will build a plant in southern China, near the Hong Kong border, where production will begin in 1995 with an initial rate of 150,000 units a year.
In the meantime, the Israeli company Electra Consumer Products said it will begin selling its own air conditioners in China.
Israel has also reached an agreement with China to import coal. Israel now imports about 5.5 million tons of coal a year from four countries, including South Africa, its largest supplier.
The country has been converting from oil to solid fuels, including coal, to produce electricity.
In the last few months, Israel and China have exchanged economic delegations to explore joint commercial projects and trade relations.
Last week, a delegation from China, which included the country’s deputy minister for trade and industry, spent a week in Israel exploring possible cooperative ventures in the spheres of communications and computer hardware and software.