India and Israel are discussing a Free Trade Agreement (FTA) that could be signed soon, says Israeli official Ofir Amami. The pact, covering goods and services, aims to deepen economic cooperation and strengthen bilateral trade relations.
India and Israel are discussing a Free Trade Agreement (FTA) covering goods and services, and the agreement could be signed in the near future as both countries seek to deepen economic cooperation and strengthen bilateral trade ties, Ofir Amami, Head of Economic and Commercial Mission at the Embassy of Israel, told ANI.
Details on the Proposed Trade Agreement
"Currently, we're also in a discussion of a trade agreement between India and Israel. It's still a process ongoing and hopefully we'll be able to see it signed in the very near future," she told ANI in an exclusive interview on Thursday at the sidelines of the National Summit on Telecom Security in the AI and Quantum Age.
Amami said India has been taking significant steps to expand its global commerce through trade agreements and broader economic engagement with countries across the world. She noted that New Delhi's efforts to strengthen international trade partnerships are creating new opportunities for cooperation with Israel.
Speaking about the proposed agreement, Amami said discussions are continuing and it would be premature to disclose specific details while negotiations remain underway. However, she indicated that both sides are committed to advancing economic cooperation and expanding trade relations. "It's too early to dive into details. Again, it's still in discussion, so we will not be able to really share any details before it's signed. But I think there are many areas that have been discussed. There is a lot of will from both sides to advance the cooperation and trade in many levels, both in the services and goods," she said.
Responding to a question on whether changing dynamics in West Asia and recent diplomatic developments could contribute to greater trade and commercial activity, Amami said both countries are moving towards deeper economic engagement and stronger commercial ties. "Definitely we're going in that direction in increasing trade, increasing cooperation," she said.
Asked about the timeline for concluding the FTA, Amami said negotiations remain an ongoing process and therefore it is difficult to predict a specific date for completion. However, she expressed optimism that progress could be achieved in the near future. "India has proved that it's very quick when they want to advance a trade agreement. Minister Piyush Goyal is very proactive on the issue, and we see a lot of advances in that area globally with India recently. So hopefully, we can join this club very soon," she said.
Broadening Partnership into Technology and AI
Beyond trade, Amami highlighted growing cooperation between India and Israel in technology-related sectors. She described a panel discussion on telecommunications, cyber security and technology cooperation as one of the highlights of the event and said both countries have significant potential to work together in these areas. "We got to discuss a little bit about cooperation in the age of technology and around telecommunication and cyber. I think it's a very interesting topic to discuss," she said.
Expanding Cyber Security Partnership
Amami noted that Israel is well known for its capabilities in the cyber domain and views India as a trusted and like-minded partner. She said cyber cooperation between the two countries is expanding, although there remains considerable scope for further development, particularly beyond the defence sector where bilateral cooperation is already well established.
Future of AI Collaboration
On artificial intelligence (AI), Amami said India is taking important steps to embrace emerging technologies and innovation. She added that cooperation in AI should involve both governments and private sectors, expressing hope that India and Israel will continue to deepen collaboration in technology, cyber security and innovation in the years ahead. (ANI)
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