Thursday, February 22, 2024

India, Israel keen on finalising FTA

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Israel’s handing over of the strategic port of Haifa to Indian company, the Adani Group, is a reflection of the trust that the country has on India, Israeli Ambassador Naor Gilon said on Wednesday.

At a media briefing, the envoy also said that both India and Israel are keen on finalising the proposed free trade pact as it could further boost overall bilateral trade ties.

Gilon indicated that there could be a forward movement on the Free Trade Agreement (FTA) during the upcoming “high-level” visit.

Describing defence ties between the two countries as very strong, he said Israel has an advantage to support India in its efforts to become self reliant in defence manufacturing because of the “long-standing” trust in the area between the two countries.

On the Adani Group acquiring the Haifa port last month, Gilon said it was sign of Israel’s trust on India and it could boost bilateral trade. It was a very important move from our side as Haifa is a strategic port, he said.

The Adani Group last month acquired the strategic port of Haifa for USD 1.2 billion (one billion =100 crore) and vowed to transform the skyline of this Mediterranean city as part of its decision to invest more in the Jewish nation.

The Port of Haifa is the second largest port in Israel in terms of shipping containers and the biggest in shipping tourist cruise ships.

In his remarks, the Israeli envoy also said that there is a great potential to expand cooperation in areas of renewable energy, smart mobility, agriculture, healthcare, water and cyber and homeland security.

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