Israel, India Pen Trade Agreement

Israel and India have signed a trade agreement aimed at significantly boosting bilateral commerce between the two countries.

At a ceremony this week in New Delhi, Israeli Finance Minister Avraham Shochat initialed an agreement granting India most-favored nation trading status.

The same day in Jerusalem, Israeli Trade and Industry Minister Michael Harish signed cooperation agreements with his Indian counterpart.

Since diplomatic ties were established in 1991, bilateral trade has grown between the two countries.

Israeli exports to India last year totaled some $300 million dollars, while imports were about $125 million.

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