Jerusalem, Nov 27 (PTI) In a big boost to the burgeoning Indo-Israel bilateral trade, the two countries are likely to sign a Free Trade Agreement (FTA) next year.
"The giant Indian market is full of endless opportunities for Israeli companies, of which many are already active there and can now expand their market," Israel's Finance Minister Yuval Steinitz was quoted as saying at a trade convention by news portal Ynetnews.
The report said that Steinitz would visit India in February.
Speaking at a trade convention in Shefayim, the Israeli Finance Minister said that the agreement would exempt many import and export ventures from VAT in both nations, it added.
The trade between India and Israel is expected to reach USD 5 billion this year from USD 200 million registered in 1992.