Israel in FTA talks with India and the UAE
India, Israel and the UAE complement each other on various fronts, especially in nurturing the startups and new-age businesses, as the three countries have very inherent and intense interest in technology and can come together to make innovation the cardinal principal of tri-lateral relationship.
Israel’s free trade agreement (FTA) with India was underway and a similar trade pact was in discussion with the UAE, according to Dr. Ron Tomer, Chairman, Presidency of Employers and Businesses, President, Manufacturers Association of Israel and CEO, Unipharm Ltd.
“The three nations can complement each other and create a win-win situation that will bring great business for all of us,” added Dr. Tomer.
“This forum is symbolic as it comes immediately after the signing of the important economic cooperation agreement between Israel, the United States, the United Arab Emirates and India on shared issues of concern in the region and globally,” underlined IlanSztulman, Consul General of Israel to Dubai.
He termed the summit a window of opportunities to collaborate and do more business together.
The Israelis have invited Indian companies to visit Israel to work and explore collaborations in various sectors.
“India is the third largest start-up ecosystem in the world and there is tremendous scope for benefitting from each-other in promoting them. While Israel is a powerhouse of research & development and startups, the UAE is also a major country supporting the startup domain,” said Dr. Aman Puri, Consul-General of India to Dubai.
The UAE’s advantages include ease of doing business, availability of capital and strategic location as a transit and re-export hub, Puri said in a release from Dubai Expo 2020 on 25 Oct 2021 after the three countries explored opportunities for collaborations on tai-lateral projects at the India-UAE-Israel Economic Summit at the Dubai Expo 2020.
Talking about the importance of collaboration, Dr. Puri said, “Pandemic has made the whole world realize how inter-dependent the countries are when it comes to dealing with global challenges of this magnitude. We need to turn this crisis into an opportunity to collaborate and make the world order more resilient in handling any crisis.”
Suresh Kumar, Chairman, Indian Business and Professional Council Dubai, noted that Israel, India and the UAE have very inherent and intense interest in technology and can come together and make innovation the cardinal principal of relationship.
The UAE-based Faizal Kottikollon, Chairman, KEF Holdings, shared his vision of major projects currently being driven in India in the field of Healthcare and Education where the three countries could collaborate for mutual benefit.
More than 250 delegates India, Israel and the UAE discussed ways and means to optimize tri-lateral opportunity for trade and investment at the summit.
The meet included three break-away panel discussions after the general session. The three sectoral panel discussions were on Harnessing the potential of the Healthcare and Medical sector; Game Changer – Agritech, Clenatech, Energy, Foodtech, Tourism, Watertech & Smart Cities and Tech Collaboration opportunities.
Nikhil Kamath of Zerodha, Nishant Pitti and Prashant Pitti of Ease My Trip and Sujeet Kumar of Udaan, the three young Indian unicorns were part of the panel. The discussions at the Summit centered around the possibilities of joint projects and mutual benefits in clean energy, infrastructure, and agri-tech along with the ways to capitalize on the opportunities in healthcare and medical sector.
In the backdrop of the Abraham Accords and recent initiatives, the UAE-Israel-India business witnessed lot of interest among the delegates from all the countries.
The event was supported by Israel Export Institute and Bank Hapoalim. Bank of Baroda and IBPC Dubai were the industry partners and sponsors for the event. #investment #projects #technology #manufacturing #exports /fiinews.com
