Ukraine, Israel to start talks on liberalization of trade in services soon

"The free trade agreement, which we have signed, covers only trade in goods. However, we have agreed with the State of Israel, and it is enshrined in the document, that we will start the talks on the liberalization of trade in services within two years after the free trade agreement comes into force. We must start this process now," First Vice Prime Minister - Economic Development and Trade Minister of Ukraine Stepan Kubiv said at the Cabinet’s meeting, an Ukrinform correspondent reports.

After the FTA comes into force, Israel will cancel import duties on more than 9% of agricultural goods and about 80% of industrial goods from Ukraine.

"For example, Israel will immediately open its market for Ukrainian medicines, fertilizers, paper products, building materials, electronic devices and innovative devices. Ukraine, in its turn, will cancel import duties on 7% of agricultural products and 70% of industrial products from Israel. As for the rest of goods, a mutual staged opening of the markets will last from 3 to 7 years, which will give time to the business to get ready for making the most of the free trade opportunities," Kubiv said.