Israel, China Pen High-tech Project Pact
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Israel, China Pen High-tech Project Pact

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Israel and China have signed an agreement to cooperate on a number of high-tech projects.

The agreement set up a $5 million fund for research in the areas of biotechnology, space technology and computers.

The agreement came as Prime Minister Yitzhak Rabin met with China’s president, Jiang Zemin, while the two were in New York on Monday to participate in commemorations making the United Nation’s 50th anniversary. Israel and China established diplomatic relations in January 1992.

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