JERUSALEM: Israel and India are finalizing an investment protection agreement and expect to sign it in the coming months, Israel’s Finance Ministry said on Tuesday.
Finance Minister Bezalel Smotrich and the ministry’s chief economist Shmuel Abramzon discussed the issue, which it did not elaborate on, and other economic matters with Indian Ambassador to Israel J.P. Singh.
“Deepening economic ties with India is one of the goals I have set,” Smotrich said after the meeting in Jerusalem, calling India a “true friend of Israel.” An investment protection agreement is a treaty in which countries aim to reduce the perceived risk of investing in each other, such as by offering protections against unfair treatment or removing restrictions on transferring capital and profits.
India, the ministry noted, has become in recent years one of Israel’s most important trade partners globally and especially in Asia, and the volume of trade and investments between the two countries is expected to increase sharply in the coming years in light of their strengthening diplomatic and security relations.
Bilateral trade between India and Israel in 2024 came to almost $4 billion.
“In recent years, we have witnessed a strengthening of economic ties between us, including in the fields of defense exports and infrastructure,” Smotrich said.
“The potential for further strengthening our economic cooperation is immense. It can leverage our shared technological capabilities, India’s demographic scale, and the geo-strategic position of both countries.”
Israel eyes deeper economic ties with India, finalizing investment protection deal
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Israel eyes deeper economic ties with India, finalizing investment protection deal
- India has become in recent years one of Israel’s most important trade partners globally, volume of trade and investments between two countries expected to increase
US-Israeli attack violates international law: South Africa
- Ramaphosa “calls on all parties to exercise maximum restraint and to act in a manner consistent with international law,” a statement said
- Ramaphosa “reiterates his call for intensified diplomatic efforts to de-escalate tensions”
JOHANNESBURG: The US and Israeli strikes on Iran Saturday violated international law, South Africa’s president said, calling for restraint and dialogue.
The allies launched the attack citing “threats” from Iran, which retaliated with a barrage of missiles aimed at Gulf states that host US bases, and at Israel.
President Cyril Ramaphosa “calls on all parties to exercise maximum restraint and to act in a manner consistent with international law, international humanitarian law and the principles of the United Nations Charter,” a statement said.
The UN Charter states that self-defense can only be invoked when a state has been subjected to an armed invasion, the statement from his office said.
It condemned “international law violations,” saying: “Anticipatory self-defense is not permitted under international law and self-defense cannot be based on assumption or anticipation.”
Ramaphosa “reiterates his call for intensified diplomatic efforts to de-escalate tensions and create space for continued meaningful negotiations,” the statement said.
US President Donald Trump said Washington’s goal was “eliminating imminent threats” from Iran, while Israel’s Prime Minister Benjamin Netanyahu said the operation was to remove an “existential threat.”
