Ukraine has officially concluded negotiations kicked off in 2015 with Israel on signing of the Free Trade Agreement. This was announced by Prime Minister of Ukraine Volodymyr Groysman during a Government meeting.
"We are at the final stage of the negotiations, we will shortly shape conditions for signing of the agreement", the Prime Minister emphasized.
Negotiations on FTA with Israel were initiated in 2015, and only in 2017, 11 rounds of talks on the conclusion of the Agreement were held. After signing the agreement must be ratified by the Parliaments of Ukraine and Israel.
The entry into force of the Agreement will allow to immediately and without duty export of a wide range of agricultural and food products to Israel, as well as medicines, cosmetics, products of the chemical and light industry, building materials, electronics, etc. In three years duties will be removed on spices, seeds, flour, ketchup, canned food, confectionery, clothes, furniture and glass.
The agreement regulates trade disputes, fixes customs procedures, rules of origin of goods, describes sanitary and protective means, including anti-dumping actions.
The volume of exports of Ukrainian goods and services to Israel last year increased by 19% and amounted to USD 781.2 million.