Economy

Indo-Israel FTA likely by year-end

Amit Mitra Hyderabad | Updated on March 12, 2018

The Indo-Israel Free Trade Agreement may be concluded by this year-end, according to a senior Israeli diplomat.

“It should have been signed by the end of last year, but it got delayed. I expect that it will be finalised by this year-end,” Avi Friedman, Counsul for Trade and Economic Affairs, Head of Trade Section, Consulate General of Israel, Bangalore, said on the sidelines of a interactive meeting with trade body FAPCCI here today.

He said the conclusion of the agreement could significant increase bilateral trade between the two countries, which is currently at $4.5 billion, excluding the defence sector.

Cyber security

Friedman identified cyber security as a new potential area that the two countries could have deeper engagement, especially in the context of preventing cyber attacks.

“India is a victim of cyber attacks in the power and oil and gas sectors, I am given to understand. Even Israel is faced with cyber attacks (hacking of key installations),” he told Business Line.

Centres of excellence

Efforts are also on to expand the Indo-Israeli cooperation in setting up of centres of excellence beyond the horticulture sector.

“We are looking at other agri-related sectors such as dairy and alternative crops. So far, there are 28 applications from nine states to set up such centres of excellence,” Udai Ken Sagar, President of Indo-Israel Chamber of Commerce and Industry, said.

Published on July 09, 2014

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