The Hindu Business Line : Sharon invites Indian investment

The Israeli Prime minister, Mr Ariel Sharon, with the Finance Minister, Mr Jaswant Singh, at a meeting with Indian businessmen in the Capital on Wednesday. — Kamal Narang

New Delhi , Sept. 10

THE Israeli Prime Minister, Mr Ariel Sharon, on Wednesday invited the Indian business community to invest in Israel as also participate in its disinvestment process.

Addressing captains of the Indian industry at a luncheon meeting jointly organised here by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII), Mr Sharon said he firmly believed in the concept of "reciprocity" while noting that there were several areas in which Israel could learn from India.

Expressing satisfaction at the level of Indo-Israeli trade relations, Mr Sharon said there was much more which could be achieved. He said there was immense potential for greater co-operation in diverse areas and Israel would continue to develop its relations with India.

In this context, Mr Sharon mentioned that Israel had free trade agreements with several counties, including the US, the European Union, Mexico and Canada.

Talking about co-operation between the two countries, Mr Sharon said during his current visit, it has been decided to launch an Israeli telescope on an Indian satellite. He also said a joint farm in India would further strengthen ties between the two in the agriculture sector. Besides, a series of agreements to further cement co-operation between India and Israel have also been signed, he said.

Addressing the meeting, the Union Finance Minister, Mr Jaswant Singh, said India and Israel were two natural business partners who had been separated by two country bureaucracies.

Meanwhile, coinciding with Mr Sharon's visit, the CII along with the Israel Export and International Co-operation Institute and the Manufacturers Association of Israel on Wednesday set up an India-Israel CEOs forum. The forum comprises senior business heads from both sides to deliberate on trade and economic issues. With an initial composition of CEOs from India and Israel, it is to meet annually — once in India and once in Israel.

In a statement, CII said the forum has been set up to enhance the existing relationship between India and Israel in the field of economic co-operation and to identify hindrances to growth in two-way trade and investment at the industry and Government level and suggest solutions to remove them.

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