Brosh: over 150 cooperation agreements signed with indian companies

Israeli officials said last week that Israel and India are to sign a wide-ranging economic agreement, which will include investment cooperation, following meetings held with a visiting business delegation from India, headed by Indian Commerce Secretary Shri Menon.
 
The delegation met with Ra'anan Dinur, director general of the Israel Trade and Industry Ministry, who said that the talks had covered topics ranging from trade in goods and services to mutual investments, to upgrading technology contacts.
 
Shraga Brosh, Israel Export and International Cooperation Institute chairman and Manufacturers Association President reported that Israeli and Indian companies had already signed 140 agreements on cooperation in production, development, marketing and distribution, adding that last year Israeli exports to India jumped 45% to $1.02 billion, while imports from India rose 27% to $1.12 billion.
 
At the bilateral meeting, which was in the format of think tanks from the two countries, the parties discussed the signing of an expanded trade agreement, which was expected to enhance cooperation in pharmaceuticals, environmental protection, security, telecommunications, agro-industry and agro-chemicals, textiles, chemicals, infrastructure and software.
 
Brosh predicted that Israeli exports to India could increase substantially every year if Israel adopted certain measures. The most important such measure mentioned was signing a financial protocol, which would make it easier for Israeli companies to obtain financing for projects in various regions of India, in competition with European countries that grant such financing. 

Israeli industrial exports to India, excluding diamonds, grew 79% to $339 million in 2004, and imports were up 22% to $330 million.
 
According to Israel Export and International Cooperation Institute, Israeli industrial exports are expected to grow a further 30-40% this year.