- Saturday, April 27, 2024
By: Shubham Ghosh
INDIA and Israel have agreed to resume talks on a free-trade agreement from November with both sides aiming to sign a deal by the middle of the next year, it was learnt on Monday (18).
Ties between India and Israel have grown deeper since 2014 when Narendra Modi became the Indian prime minister. A number of strategic, military and technology partnerships have been formed during this time.
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Free trade talks were announced after the foreign ministers of both countries met in Jerusalem where they spoke on mutual recognition of vaccination certificates and expanded cooperation in water and agriculture, both sides announced in a statement.
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“We are continuing with our policy of connections, and we have seen in India a very important ally for many years. India also brings with her new opportunities for cooperation,” Israel’s foreign minister Yair Lapid said.
“Very productive talks today with APM and FM @YairLapid Discussed a wide range of regional and global issues. Agreed to resume FTA negotiations next month. Agreed in principle on mutual recognition of Covid vaccination certification,” Indian external affairs minister S Jaishankar said in a tweet.
Very productive talks today with APM and FM @YairLapid.
Discussed a wide range of regional and global issues.
Agreed to resume FTA negotiations next month.
Agreed in principle on mutual recognition of Covid vaccination certification. pic.twitter.com/sir0QDYzx3
— Dr. S. Jaishankar (@DrSJaishankar) October 18, 2021
India aims to sign new trade deals with several nations including Australia, the United Arab Emirates, the UK and Canada to boost exports and help its economy recover from the setbacks caused by the coronavirus-induced pandemic.
Total merchandise trade between India and Israel stood at $4.67 billion by the end of 2020-21 fiscal, according to India’s trade ministry. New Delhi wants a record growth in merchandise exports of nearly 37 per cent to $400 billion in the current fiscal ending in March. Between April and September 2021, merchandise exports were $197.89 billion, higher by more than 57 per cent compared to the same period last year.
