'Israel, India keen to expand two way trade'

Reuters
Wednesday, December 06, 2006

'Israel, India keen to expand two way trade'
http://www.financialexpress.com/latest_full_story.php?content_id=148228

REUTERS
New Delhi, December 6: Israel wants a preferential trade pact
with India and would like to see two way trade double to $5
billion in the next few years, senior officials said on Wednesday.

Eliyahu Yishai, Israel's trade minister, told a business
conference in the Indian capital that he and his Indian
counterpart, Kamal Nath, were keen to see trade between the
countries grow.

"We have agreed that first phase of talks for trade expansion
will take place as soon as possible," Yishai, who is also Deputy
Prime Minister, said through an interpreter.

Israeli Ambassador David Danieli told the conference the
countries had agreed to work out a preferential trade agreement.

"I believe we can make it by 2007," Danieli said.

Two-way trade between the two nations could be increased to $5
billion by 2008 or 2009, he told the conference.

Indian exports to Israel were $1.2 billion in the year to March
2006 while imports were $1.0 billion, Indian government data showed.

India mainly exports gems and jewellery, drugs, textiles and
chemicals to Israel, and imports pearls, precious stones,
fertilisers, electronic goods and instruments.