Free Trade Agreement Ukraine - Israel was signed

Free Trade Agreement Ukraine - Israel was signed

On January 21, the First Deputy Prime Minister signed the Free Trade Agreement between Ukraine and Israel.

The document provides, in particular, the abolition of import duties for about 80% of Ukrainian industrial goods and the abolition of about 70% of import duties on Israeli industrial products.

It is noted that the Free Trade Agreement with Israel allows preserving and expanding traditional exports for Ukraine, in particular for agricultural products, and opening up new opportunities for the export of high value-added goods.

In addition, from January 1, Ukraine became a member of Pan-Euro-Med, which allows creating the EU-Ukraine-Israel free trade triangle. Ukrainian producers will be able to import raw materials and goods from Israel, processing  them in Ukraine and exporting  them at a preferential duty rate to the EU. This creates additional incentives for locating high value-added production in Ukraine.