California, Israel to join on renewable energy

California Governor Arnold Schwarzenegger is currently visiting Israel.

Governor of California Arnold Schwarzenegger and Minister of Industry, Trade and Labor Benjamin Ben-Eliezer are due to sign a renewable energy R&D cooperation agreement today. Schwarzenegger is visiting Israel to attend the 6th Saban Forum.

The cooperation agreement will promote Israel-California strategic R&D in renewable energy and environmental technologies by establishing joint ventures between Israeli renewable energy companies and municipal authorities in California. The agreement will also boost mutual investment, and foster research collaboration.

Ben-Eliezer said, "This important agreement can boost research by these two sun-drenched states, and facilitate cooperation between researchers and industrialists on both sides. Both states are well-known worldwide as having strong renewable energy capabilities, which is why this agreement is important and desirable. This is a specialized agreement in renewable energy with an important economy, such as California, which is an important center of technology in the world."

US-Israeli trade totaled $17 billion in January-September 2009, including $12 billion in Israeli exports to the US, and $5 billion in imports. Israeli exports to the US were down 12% compared with the corresponding period of 2008, and imports were down 25%.

Published by Globes [online], Israel business news - www.globes-online.com - on November 15, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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