New Delhi:
India and Israel had common beginnings as British colonies and today, both face the threat of Islamic terror, Israel finance minister Bezalel Smotrich told NDTV in an exclusive interview today. Israel had got its Independence from the British in 1948 - one year after India. Mr Smotrich told NDTV today that both nations are dealing with"dangerous, cruel, and indisputable Islamic terrorism".
"And many times, we also have to contend with the hypocrisy of the international community that attempts to stop us from addressing these threats," he added, finding common ground with India in the stance of certain nations, including China.
"These commonalities should also manifest in extensive economic cooperation," he said, in the backdrop of the massive India-Israel deal signed today.
The Bilateral Investment Agreement between the two nations aims to promote and protect investments in each other's countries, the finance ministry has said.
Terming the deal as"historic", Mr Smotrich said both governments are encouraging the private sector to forge mutual investments and are focussed on creating a"regulatory framework that will give security, stability, and certainty for investments".
"For decades of investments to come... including the obligation of both governments to protect each other's investments. Not to discriminate. Not to respect the property rights. And a mechanism for adjudicating disputes that may arise," he added.
New Delhi has said the pact includes provisions to safeguard investments against expropriation, ensure transparency, and enable smooth transfers and compensation for losses. It also balances investor protection with the state's regulatory rights, preserving sufficient policy space for sovereign governance.
"The agreement is expected to boost investments, provide greater certainty and protection for investors, facilitating the growth of trade and mutual investments by ensuring a minimum standard of treatment, and an independent dispute resolution mechanism through arbitration," the ministry said.
