1. The 1st Korea-Israel Joint Economic Committee will be held in Seoul on Junauary 17, 2001, for 
discussions on ways to promote bilateral cooperation in areas of industry and trade, as well as other 
pending trade issues between Korea and Israel. The Korean and Israeli delegations will be headed by 
Minister for Trade Han Duk-soo and Israeli Acting Minister of Industry and Trade (Director General) Reuven 
Horesh, respectively. 

2. The two sides will take this opportunity to not only discuss general issues of bilateral cooperation in 
industry and trade, but also exchange views on specific trade issues such as pursuit of a joint research on 
information protection technology and export/import of agricultural goods. The bilateral trade amount 
between Korea and Israel has reached approximately US$1 billion as of November 2000. 

3. The two countries also have mutually complementary economies, reflecting a great possibility for further 
expansion of bilateral trade and investment. Israel, in particular, is internationally competitive in the area of 
advanced science such as high-tech industry. The Korean government plans to use the joint economic 
committee as a momentum for facilitation of close cooperative ties between the Korea and Israel. 


                                                            Spokesperson of MOFAT

*unofficial translation