China and Israel are pledging more cooperation following meetings among leading officials from the two countries in Jerusalem on Tuesday.

Chinese Vice Premier Liu Yandong (L) shakes hands with Israeli Prime Minister Benjamin Netanyahu during the 2nd meeting of China-Israel Joint Committee on Innovation Cooperation held in Jerusalem on Tuesday, March 29, 2016. [Photo/CRI]

Chinese Vice Premier Liu Yandong, meeting with Israeli officials in Jerusalem, says she believes China and Israel have a lot to gain from one-another, particularly when it comes to innovation.

"China has adopted innovation driven development as a national strategy. We fully supporting anyone who wants to be an innovator in virtually every field. We also think the idea of innovation fits well into the relationship between China and Israel. We can do a lot of things together, and have a lot of room to increase cooperation."

The vice-Premier's comments have been made at a meeting of the China-Israel Joint Committee on Innovation Cooperation.

The inter-governmental platform came into being following a meeting between Liu Yandong and Israeli Prime Minister Netanyahu during her stop in Israel in 2014.

"We should be promoting Israel's innovation experience, as well as its technological advancements, with our innovation-driven development strategy. We can look at new ways to try to make our cooperation more effective."

Following his meeting with the Chinese vice-Premier, Israeli Prime Minister Benjamin Netanyahu says he appreciates China's foresight when it comes to advancing the concept of innovation.

"We have so much that we can do together. In every field of human endeavor the cooperation between Israel and China can yield enormous results. And we believe that Israel can be a perfect partner for China's plans to move its people upward, and I think move the world upward."

At the same time, Netanyahu has confirmed the Chinese government is putting out overtures toward creating a free trade agreement with Israel.

"I was delighted to hear today from Vice Premier Liu that China is prepared to begin free trade agreement negotiations with Israel. This is a momentous development and we are ready to do so right away."

Annual trade between China and Israel stands at around 10 billion US dollars.

Israeli officials are suggesting a free-trade deal with China could double that figure.

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