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Israel and China are two countries that have been conducting business with each other for several years now. The trade relationship between the two nations is rapidly growing as Israel looks for new markets beyond its traditional partners in the US and Europe.

Recently, the Israeli government announced that it had signed a free trade agreement with China, which is expected to have a significant impact on the trade relationship between the two countries. This agreement has been in the works for several years and is now finally coming to fruition.

The free trade agreement will remove tariffs on goods and services traded between Israel and China, making it easier for businesses in both countries to conduct trade. It will also make it easier for Israeli companies to enter the Chinese market and vice versa.

This agreement is expected to have a significant impact on the Israeli economy. In 2019, trade between Israel and China was valued at over $15 billion, and this figure is expected to increase considerably with the new agreement in place. The agreement will increase exports and help Israeli businesses access the vast Chinese market, thus boosting the Israeli economy.

While the agreement is excellent news for Israel, it is also a significant development for China. China is looking to increase its trading relationships beyond its primary trading partners, primarily due to geopolitical concerns. Additionally, with the ongoing trade war between China and the US, China is looking to diversify its trading partners.

The free trade agreement will also help further strengthen the diplomatic relations between the two countries. Israel is one of the few countries in the Middle East that has diplomatic relations with China, and the agreement is expected to help foster deeper connections on various fronts.

In conclusion, the free trade agreement between Israel and China is a significant development for both countries. The agreement will boost trade and increase economic ties, helping both countries prosper. With geopolitical tensions rising globally, the agreement will also help strengthen diplomatic ties between Israel and China.