President of Ukraine Volodymyr Zelensky states that the Free Trade Zone between Ukraine and Israel will start operating on January 1, 2021. This was announced by Zelensky on his Twitter page.
"The FTA between Ukraine and Israel will take effect on January 1, 2021! This is a new level of relations between the countries and a green light to increase Ukrainian exports, closer cooperation in high-tech, engineering, investment cooperation," Zelensky said.
The Free Trade Agreement with Israel was signed by the parties on January 21, 2019. It was ratified by Verkhovna Rada of Ukraine five months later.
As we reported earlier, the reason for the delay in ratification of the FTZ agreement between Ukraine and Israel was the constant re-election of the Knesset.
"In Israel, we are now going to the third round of parliamentary elections. This means that some processes have been suspended for more than a year. We signed a free trade zone agreement with Ukraine a year ago. It was not ratified. It could not be ratified by Israel. Therefore, it is not working right now," reads the message.
