Israel-India FTA Negotiations
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5th Round of Israel-India FTA Negotiations Starts Tomorrow
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8/13/2012
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PRESSRELEASE
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GovXContentSection
5th Round of Israel-India FTA Negotiations Starts Tomorrow
New Delhi, 13 August 2012: The 5th round of negotiations between Israel and India on a Free Trade Agreement will be taking place in New Delhi on 14th-16th August, 2012. The negotiation teams are led by Joint Secretary, Ministry of Commerce, Mr. D.S. Dhesi, and Deputy Director General of the Israeli Ministry of Industry and Trade, Mr. Ohad Cohen.
The two nations, celebrating this year 20 years of full diplomatic relations, are negotiating an extensive bilateral free trade pact, focusing on goods, services and investments. The FTA is expected to expand the basket of goods that will be traded and create significant and substantial business opportunities for traders and businesspersons of both countries.
The annual bilateral trade between India and Israel stands today at over USD 5 billion, a staggering rise from the USD 180 million trade figure in 1992, when both countries established their diplomatic ties. Trade between the two countries includes diamonds, chemicals, machinery, IT and agro-technologies.
Israel’s Commercial Attaché in New Delhi, Mr. Yonatan Ben Zaken, stated: "India is of Israel's most important trade partners. Israel’s industry is keen to expand its activity in India, and we see a growing interest on both sides for cooperation in various sectors, including water and energy technologies, ICT, and agriculture"
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