India, Israel sign 9 MoUs and Agreements to boost bilateral ties

India, Israel sign 9 MoUs and Agreements to boost bilateral ties

India and Israel signed nine Memorandum of Understanding (MoUs) on 15 January 2018 in various fields to boost and strengthen the bilateral relations between the two countries.

The MoUs were exchanged in the presence of Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu. Earlier, the leaders held delegation-level talks and discussed the ever-growing cooperation in all aspects of the bilateral relationship between the two sides.

Netanyahu, who is on a six-day visit to India, received a ceremonial reception at the Rashtrapati Bhawan. He is accompanied by his wife Sara and a 130-member delegation from various sectors, including cyber, agriculture and defence.

The Prime Ministers welcomed the completion of all formalities for the launch of the India-Israel Industrial R&D and Technological Innovation Fund (I4F) that was announced during Prime Minister Modi's visit to Israel.

9 MoU Signed:

• The two sides exchanged MoUs on cyber security cooperation; cooperation in oil and gas sector between petroleum and energy ministries; protocol on amendments to air transport agreement; agreement on film co-production; cooperation in field of research in homeopathic medicine; cooperation in field of space; letter of intent between Invest India and Invest in Israel; cooperation in area of metal batteries; and cooperation in area of concentrated solar thermal energies.

Brief of the Bilateral meet:

• The two Prime Ministers commended the decision of the respective Ministries of Science and Technology to commence nine joint R&D projects in the areas of big data analytics in health care and security in cyber space.
• The two Prime Ministers welcomed the initiation of cooperation between India and Israel in the energy sector with the signing of an MoU on Cooperation in the Oil and Gas sector that will promote, inter alia, collaboration in the upstream sectors, research and development in future technologies and start-ups in oil and gas.
• The two Prime Ministers urge research institutions and industry to collaborate, including in third countries, to promote greater use of solar technologies through the International Solar Alliance.
• Both Prime Ministers urged the private sector to actively explore investment opportunities in both countries, including through the India's flagship programmes such as Make in India, Start-Up India and Digital India.
• The two Prime Ministers have decided to expedite the conclusion of an Agreement on Maritime Transport that will encourage greater business between the shipping organizations of India and Israel, and create new opportunities in maritime services and training.
• Both Prime Ministers agreed to holding Festivals of India and Israel in their respective countries in the Year 2019 as a further step to solidify friendship between the peoples of both countries.
• Both agreed to explore ways to develop joint programmes of assistance for third countries in the areas of training, capacity building, and the development of small projects in the agriculture, water, health-care and education sectors.
• Both the Prime Ministers, reiterated the importance of building comprehensive cooperation in counter-terrorism, including cyber-space, and welcome the signing of the MoU on Cooperation in Cyber Security between India and Israel.
• Both sides have signed an MoU in Film Co-Production in recognition of the role that films play in promoting people-to-people contact.
• They agree to continue high level exchanges and to maintain dialogue in all areas, and to work in practical ways for the benefit of their peoples. Both sides are working together on a Five Year Joint Work Plan for strategic cooperation in Agriculture and Water.