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Israel: An Increasingly Important Trading Partner for China and Hong Kong

Israel has been celebrated as an economic miracle riding on its brand of being a “start-up nation”. Geographically located in the Middle East to the eastern end of the Mediterranean Sea, Israel has had limited natural resources and has struggled with wars and political instabilities since it declared independence 70 years ago in 1948. Yet, Israel’s tremendous economic growth, particularly in high-tech industries, in the past decades has earned Israel its membership of the Organisation for Economic Co-operation and Development (“OECD”) in 2010, placing it amongst the other 34 most developed economies in the world.