India and Israel will hold another round of negotiations by the end of March on signing the Free Trade Agreement (FTA) to achieve a bilateral trade figure of US$10-15 billion per year.
The two countries had decided on the FTA during the recent visit of External Affairs Minister to Tel Aviv.
“There is another round of negotiations towards the end of March and I hope both sides will do their best and by the end of this year we will sign the (FTA) agreement,” Israeli Ambassador to India Alon Ushpiz said, adding, the agreement will lay the foundation for the two countries to achieve the mark of US$10-15 billion dollar trade per year.
He also said that his country would soon open a Consulate in Bangalore to focus on activities such as homeland security and high tech agriculture.
On the achievements made during the two decade-old relations between the two countries, Ushpiz said, in 20 years we have come from US$180 million to more than US$5 billion.
