India and Israel are likely to sign a Free Trade Agreement next year to boost the burgeoning bilateral trade. This was stated by the Israeli Finance Minister Yuval Steinitz in Shefayim, Israel. According to a report of news portal Ynetnews from Jerusalem, the Israeli Finance Minster told a trade convention that the proposed agreement will exempt many import and export ventures from VAT in both nations.He said, the giant Indian market is full of endless opportunities for Israeli companies with many of them already active in India. The agreement can expand the market.The trade between India and Israel is expected to reach 5 billion Dollars this year from 200 million in 1992. The news portal said Steinitz will visit India in February.