Mr Cohen decided to cut down on travel hours after landing in New Delhi (File)
Jerusalem:
Israel is keen to finalize an FTA with India as there is a huge scope of trade between the two countries, Foreign Minister Eli Cohen has said, and expressed hope that the agreement will further strengthen bilateral economic ties.
From humble beginnings of $200 million in bilateral trade (mainly in diamonds) in 1992 when full diplomatic relations were established between the two countries, merchandise trade has diversified and is expected to reach $7.86 billion (defence) during the period 2021-2022. except) has been reached.
Also, bilateral trade in services in 2021 was $1.1 billion and in FY 2022-23, bilateral merchandise trade for April to December 2022 was $8.09 billion (excluding defence).
“The scope for business opportunities between our countries is huge and there is a strong desire to finalize an FTA which will hopefully further strengthen our economic ties… I believe that the scope of the FTA will exceed the trade no. Far bigger. We should discuss it.” Keeping bilateral ties in mind”, he asserted on Tuesday just ahead of his visit to India.
However, after landing in New Delhi, Mr. Cohen decided to cut short the travel hours in view of certain developments in Israel.
The Gulf countries agreed to open their airspace to Israeli airlines as air traffic between the two countries got a boost, MR Cohen called it a “game changer” which also brought to the fore India’s importance in the region.
Cohen said, “Although the corona pandemic has temporarily reduced the number of direct flights, we are now talking about increasing the number of flights and increasing the destinations.”
“The introduction of more direct flights will enhance connectivity between our countries to facilitate the movement of tourists, businessmen and students. The people of India have also benefited from promoting regional connectivity. The thriving Indian diaspora in the Gulf can now fly directly can fill.” UAE to Israel or Israel to Bahrain,” the minister said.
He also highlighted its immense impact on promoting trade relations in the region.
The Indian student community, mainly composed of researchers at the PhD and post-doctoral levels, is the largest student community from abroad.
Mr. Cohen wants to deepen this link by bringing more students from India to Israel as there is “inexhaustible potential” in academic cooperation between the two countries.
“We need to make a greater effort to become attractive to large numbers of Indian students. Professional authorities are examining this issue with universities and the Higher Education Council. has an interest in.” And of course students from India. This will bring together the scientific communities of both countries in the long term,” he said.
Asked how India’s presidency of the G20 and the invitation to New Delhi for the G-7 summit could help strengthen India-Israel relations, he said, “We believe that the agenda that India is putting forward in these fora It is for India. The benefit of the global economy, of which Israel is a part”.
“Continued consultations between various parties in Israel and India touch many areas, but India also has a unique role in G20 and G7 issues because of its size and economic strength and its international importance”, he stressed. .
On India’s role in the Middle East, Israel’s foreign minister said: “With regard to India’s role in the Ministry of Foreign Affairs (Middle East Region), we see India’s increasing involvement in many places in the world, including in the Ministry of Foreign Affairs (Middle East Region) , including moving closer to the UAE, Saudi Arabia, Egypt and others. This is certainly a positive process because, as noted, India has a positive influence on the climate of cooperation in the region.” On the question of defense ties and Israel’s participation in the flagship Make in India programme, Mr Cohen said defense ties have been “a key pillar of the growing partnership between the two countries”.
“Our relationship is based on three basic foundations: shared values, mutual interests and common challenges. With such well-coordinated defense cooperation, Israel is among the first countries to invoke the ‘Make in India’ initiative and undertake joint projects. With a manufacturing base in India,” the Israeli minister asserted.
“In Israel we have no doubt that R&D serves as a growth engine for local industry. That is why we set out to point out shared challenges, discuss and find solutions together and even integrate them into a Looking forward to creating more joint R&D platforms to build on together. Both sides have a lot to gain from this collaboration,” he said.
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