The Apparels Export Promotion Council (AEPC) today signed a memorandum of understanding (MoU) with Israel Export and International Cooperation Institute, under which the two countries will explore areas of cooperation in the areas of textiles and apparels.
The MoU was signed during a buyer-seller meet organised by the AEPC in Tel Aviv, Israel, during 5-6 September.
The MoU aims at enhancing trade and economic relations between the two countries by expanding business and cooperation in the sphere of clothing and fashion industries, innovative technologies and possible solutions for the textile industry.
AEPC and IEICI will be working towards facilitating linkages of appropriate organisations that can contribute in furthering apparels trade. Chairman AEPC was hopeful that the MoU will go a long way in knowledge transfer for mutual enhancement of trade.
''Israel is an important market and with the India-Israel FTA in the anvil, we are hopeful of increased trade between the two countries. AEPC for the first time is organising a buyer-seller meet in Israel to capture not only the Israel apparel market but also $11 billion apparel market of the Middle East region," A Sakthivel, chairman of AEPC, said.
India has also sent a high level delegation to Israel with the aim of exploring areas of cooperation with that country in the area of apparels trade.