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Israel, India Discuss Free Trade Zone
By Avi Krawitz Posted: 08/06/07 04:26
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RAPAPORT... The trade ministers of Israel and India have met to advance negotiations to establish a free trade zone between the two countries.

The meeting between Israel’s minister Eli Yshai and his Indian counterpart, Shri Ashwani Kumar, came in light of a study conducted in Israel about the viability of the project.

Kumar arrived in Israel this week as the head of a business delegation seeking business opportunities and cooperation with Israeli industrial companies. His schedule will include a visit to the Israel diamond exchange in Ramat Gan.

Israel’s exports to India rose 8.6 percent to $753 million in the first half of 2007, while imports declined 4.4 percent to $833 million, Israel’s ministry of Industry, Trade and Labor Trade reported.

In 2006, diamonds and precious stones accounted for 61 percent of Israel’s exports to India, and 66 percent of imports from India.
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