Jerusalem [Israel], February 26 (ANI): Foreign Secretary Vikram Misri on Thursday said that a negotiating team from Israel is in India to negotiate the terms of a free trade agreement.

Misri said that both parties have decided to launch a bilateral financial dialogue.

'In September 2024, the two countries signed a bilateral investment agreement, and today, a negotiating team from Israel is in India for the first round of negotiations on concluding a free trade agreement between the two countries. To complete this triad, the two sides have also decided to launch a bilateral financial dialogue,' the Foreign Secretary said.

Addressing a press briefing, said that Prime Minister Narendra Modi has concluded his state visit to Israel, undertaken at the invitation of Israeli Prime Minister Benjamin Netanyahu.

'In recent years, mobility has been a sunrise sector of cooperation between the two countries, and considerable progress has been made. Nearly 42,000 Indian skilled workers have travelled to Israel in recent years. Today, the signing of the implementation protocol on commerce and services, manufacturing, and the restaurant sectors will open up these sectors for mobility cooperation and facilitate the safe and secure movement of Indian nationals and Indian workers in these sectors in Israel. There is also a broad consensus that up to 50,000 Indian workers may arrive in Israel within the next five years to work in these sectors.'

Prime Minister Narendra Modi, while addressing a joint press briefing with Israel PM Benjamin Netanyahu, said that India and Israel will soon give final shape to the trade agreement.

He said,'We will soon give final shape to a mutually beneficial Free Trade Agreement.'

The meeting yielded several outcomes, with 17 MoUs and 10 announcements.

The announcements included- Elevation of relationship to Special Strategic Partnership; JCM on Science and Technology elevated to Ministerial level; Initiative to collaborate in Critical and Emerging Technologies led by National Security Advisors; Financial Dialogue; Tech-Gateway Initiative; 20 Joint Fellowships in Agricultural Research; Increase of contribution of both sides for the Joint Research Calls; Quota of up to 50,000 Indian workers over the next 5 years; India-Israel Academic Cooperation Forum; India- Israel Parliamentary Friendship Group. (ANI)