India, Israel likely to start formal talks for FTA soon

Israel-India trade is expected to grow to $12 billion in the next four years. Our Bureau Kolkata, July 4 India and Israel could soon start formal negotiations for a Free Trade Agreement, according to Mr Mark Sofer, Ambassador of Israel. The idea of having an FTA between the two nations, which was mooted three years ago, has been positively received, he said. “Though we have not started formal negotiations there is complete agreement on both sides,” he said. Mr Sofer, who was in the city on Thursday, met with the West Bengal Chief Minister, Mr Buddhadeb Bhattacharya. During his address to the media later, he said that both countries had a vibrant and strong defence relationship and by having an FTA can develop co-operation on the economic front. Israel-India trade, which currently stands at $3.3-3.5 billion, is expected to... [read full story]