PM Groysman urges Israeli business not to wait for ratification of FTA but to develop economic relations now

Source : 112 Ukraine

The Prime Minister noted that over the past decade, Israel has changed and this makes it possible to ensure a new quality of cooperation
13:19, 20 August 2019
Volodymyr Groysman, Ukraine's PM
Ukraine's PM Volodymyr Groysman called on Israeli business not to wait for the ratification of the FTA by Knesset in September and to develop economic relations now. He said this at a briefing with Israeli Prime Minister Benjamin Netanyahu in Kyiv, 112 Ukraine reports.

“Now we are actually introducing economic visa-free conditions when our goods, our economies will integrate more. And most importantly, it is already possible to expand the FTA including services, provide mechanisms for joint investment. Today there is a highly developed technological state, and over the past decade Israel has significantly changed, and this enables us to ensure a new quality of our cooperation. Therefore, I urge you not to wait for the Knesset today, I understand that they will ratify the agreement in September. But it depends on business representatives how efficiently we can develop our bilateral economic relations. We can increase our turnover, we need each other, but most importantly, these are areas in which our synergy and joint efforts can provide us with real world leadership and the agro-industrial sector, energy, engineering, the latest technology, innovation - this is all where we can become stronger by sharing our talents and experience," Groysman said.
Related: President's Representative tells how to reduce price of electricity for Ukrainians by 20%

We recall, on January 21 of this year in Jerusalem, representatives of the governments of Ukraine and Israel signed an agreement on a free trade zone between the two countries.

The Verkhovna Rada of Ukraine ratified the agreement on July 11 with 230 votes of MPs. Soon, President Zelensky signed a law ratifying the free trade agreement between Ukraine and Israel.

As reported, the document will enter into force 60 days after ratification by the Ukrainian and Israeli parliaments.

It is expected that the agreement will provide an opportunity for further development of bilateral trade and economic cooperation between the countries, will help domestic producers to benefit from the liberalization of the Israeli market, and will open up opportunities for Ukrainian business both to expand sales markets and to develop and modernize their own production.
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