Trade talks between India, Israel to resume
Part of: Prelims and GS II – International Relations
Context India and Israel agreed to resume long-pending negotiations on a free trade agreement.
- The FTA talks would begin in November and concluded by June 2022
- During the last round of talks, both sides had explored the possibility of a limited trade deal or a Preferential Trade Agreement for about 200 goods, which could not be concluded.
- The Indian government is also working to resume a number of trade negotiations.
- The government has thus far committed to resumed talks with the U.K., Australia and the European Union.
- India and Israel also agreed to mutually recognise each other’s vaccination process “in principle”.
- Israel also announced it would join the India-France led International Solar Alliance (ISA), ahead of the next U.N. Climate Change COP26 summit in Glasgow in November 2021.
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- Both also joined a virtual quadrilateral meeting with U.S. Secretary of State and UAE Foreign Minister.
- The quadrilateral meeting can be seen as an outcome of last year’s Abraham Accords brokered by the U.S. that saw the UAE and Israel establish diplomatic relations.