Ukraine and Israel signed an Agreement on free trade zone
Photo: KP.UA
The agreement was signed by first Vice Prime Minister of Ukraine Stepan Kubiv, Minister of economy of Israel Eli Cohen
21.01.19 49000
Monday, January 21, between Ukraine and Israel signed an Agreement on free trade zone. It is reported by UNN.
The signing of the document took place in Jerusalem. The agreement was signed by first Vice Prime Minister of Ukraine Stepan Kubiv, Minister of economy of Israel’s Eli Cohen. Also the ceremony was attended by the presidents of both countries.
According to Kubiv, the FTA agreement includes:
the abolition of import duties for about 80% of Ukrainian industrial goods from the moment the agreement enters into force;
new opportunities for modernization of industrial production in Ukraine, because the cancellation of about 70% import duties on Israeli industrial products will encourage high-tech investment and imports;
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the increase of Israeli investments in industry, agriculture, high-tech sectors, it, innovation;
new triangle free trade EU-Ukraine-Israel, and Ukrainian producers will join in the formation of global value chains;
“Expected expansion of the Ukrainian-Israeli cooperation in the field of transport engineering, aircraft, automobiles and the auto industry,” he added.
Recall, Israel has become the 46th country with which Ukraine has signed the FTA agreement.
Also, Ukraine and Albania in February of this year, exchanged the first draft of the FTA. Parties are interested, in particular, sales of agricultural products.