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Ukraine’s Cabinet of Ministers approves Free Trade agreement with Israel

Israel will become the 46th country with which Ukraine has signed FTA
16:01, 21 November 2018

112 International

The Cabinet of Ministers of Ukraine authorized First Vice Prime Minister and Minister of Economic Development and Trade Stepan Kubiv for the signing of the agreement on the Free Trade Area (FTA) with Israel as 112.ua reported.

It is supposed that the FTA agreement will promote the activation of the trade between Ukraine and Israel, growth of export, creation of new working places, transfer of technologies, experience exchange, creation of the enabling environment for the provision of the access to the goods at the markets of Ukraine and Israel.

Related: Ukraine needs free trade with China, - Ministry of Economic Development and Trade

Israel will abolish the import duties for 9,2% for the agriculture goods (fish, vegetable oils, preserved vegetables) and about 80% for manufactured goods (medicine, fertilizer, building materials) from the moment the agreement will come into force. Moreover, the transition period for the full abolishment of the taxes, partial liberalization of the duties are provided and the exceptions from this trade regime are defined.

Israel will become the 46th country with which Ukraine has signed the agreement on Free Trade Area.

Related: Ukraine, Canada discuss extending Free Trade agreement

Ukraine and Israel completed the technical initializing of the deal earlier this year; the talks were completed in March. Later, in August, the sides agreed to sign it.

The document totally consists of 12 sections and the number of additions, which were processed, concurs with the international practice of concluding such documents.

 

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