Scindia on Middle East tour, meets Peres

Minister of State for Commerce & Industry Jyotiraditya Scindia met Israeli President Shimon Peres during a three-day visit to Israel and discussed with him various aspects of bilateral cooperation between the two countries.

Mr Scindia said the proposed free trade agreement between India and Israel was expected to give a major boost to trade and economic cooperation between the two countries.

He also discussed possibilities of developing further cooperation in high tech areas, including information technology, biotechnology and nano technology to take advantage of mutual core competencies.

According to an official press release issued here today, the two sides also exchanged views on the global challenge posed by terrorism and the ongoing cooperation between the two countries in the area of homeland security.

Both leaders agreed to emphasise greater cooperation in the application of science & technology, particularly in areas related to agriculture and water management.

Mr Scindia later met Israeli Minister of Industry, Trade & Labour Benjamin Ben-Eliezer, who underlined the fact that R&D constituted a fundamental basis for core competence in multiple industrial areas for both countries.

Mr Scindia proposed that a practical step to enhance high tech cooperation would be to set up a Government to Government joint technology incubator initiative in India with representation from both sides, including the private sector.

He also met leading Israeli industrialists to discuss promotion of trade and commerce between the two countries and spoke on "Indian Economy in the Next Decade - an Engine for Growth" at a seminar jointly organised by the Israeli Export and International Cooperation Institute and the Embassy of India.

Bilatral trade between India and Israel in 2008-09 was valued at $ 3.55 billion, with exports from India amounting to $ 1.5 billion and imports into India totalling $ 2.09 billion. Trade increased at a compound annual growth rate of 15 per cent over the last five years.

Earlier, Mr Scindia visited Jordan, where he met Minister of Industry & Trade Amer Hadidi; Minister of Foreign Affairs Nasser Judeh and Minister of Energy & Mineral Resources Khaled Anis Irani and discussed the possibilities for exploring and enhancing trade between the two countries.

The talks between the two sides focused on ways to augment the bilateral trade and also covered issues of mutual interest, the release said.

The Minister said there was vast potential for expanding trade between the two countries in sectors such as leather, information technology, pharmaceuticals, construction material and automobiles.

The two sides agreed to hold the next session of the Indo-Jordan Trade and Economic Committee in Amman as early as possible. The committee had last met in New Delhi for its eighth session in August, 2006.

Bilateral trade between India and Jordan was estimated at $ 1.785 billion in 2008 and $ 934 million in the first 11 months of 2009.

Jordan’s imports from India were valued at $ 503 million in 2008 as compared to $ 469 million in 2007. India’s main items of exports to Jordan consist of electrical machinery & equipments, engineering goods, organic chemicals and aircraft & parts. India’s main imports from Jordan are phosphates, phosphoric acid, fertilizers, inorganic chemicals, aluminium and lead, the release added.

NNN