The second Taiwan-Israel business conference opened in Tel Aviv Sunday. Israeli delegation leader David Arzi said that Taiwan is Israel's third major business partner in Asia, after China and India. Arzi said that Taiwan and Israel's strengths complement each other, and the conference will enable business leaders to upgrade bilateral ties.

Taiwan's Vice Economics Minister spoke at the seminar Sunday. He said Israel excels at hi-tech innovation, research and development, while Taiwan is strong in hi-tech product manufacturing and marketing. The official said Taiwan and Israel should work together to explore emerging markets in Southeast Asia, Eastern Europe, and Central and South America.

Taiwan and Israel had a trade volume of over 1 billion US dollars for the first 11 months of 2006.