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India-Israel FTA to boost apparel exports: AEPC

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    NEW DELHI: The proposed free trade agreement (FTA) between India and Israel is expected to benefit the country's apparel sector significantly in the wake of slowdown in the western markets, AEPC said on Thursday.

    The Apparel Export Promotion Council (AEPC), which organised a two-day buyer seller meet in Tel Aviv, said Indian exporters would be able to tap the middle east region through the Israeli market.

    The meet, which ended on Thursday, was inaugurated by textiles secretary Kiran Dhingra.

    "Israel is an important market and with the India-Israel FTA in the anvil, we are hopeful of increasing trade between the countries," AEPC chairman A Sakthivel said in a statement.

    He said entering Israeli market will help in tapping USD 11 billion apparel market of the Middle East region.

    Further in order to increase cooperation in the sector between the countries, AEPC signed a memorandum of understanding with Israel Export and International Cooperation Institute.

    "The MoU is aimed at enhancing trade and economic relation by expanding business and cooperation in the sphere of clothing and fashion industries, innovative technologies and possible solutions for the textile industry," it said.

    Both the associations, it said, would work towards facilitating linkages of appropriate organisations that can contribute in furthering apparel trade.

    "Israel in terms of apparel imports has been ranked as 31st largest importer in world with a share of 0.3 per cent of total world apparel import," it added.

    India is ranked as eighth largest supplier of apparel to Israel with the share of 2 per cent in 2011.

    In August, India and Israel held the fifth round of negotiations for the FTA, a move which would increase bilateral trade and investment between the countries.

    The bilateral trade between the nations stood at over USD 5 billion.

    Trade between the countries includes diamonds, chemicals, machinery, IT and agro-technologies.


    India-Israel FTA to boost apparel exports: AEPC - The Times of India