FTA between Ukraine and Israel enters into force

FTA between Ukraine and Israel enters into force

Ukrinform
On January 1, 2021, a Free Trade Agreement (FTA) with Israel came into force in accordance with the Law of Ukraine "On Ratification of the Free Trade Agreement between the Cabinet of Ministers of Ukraine and the Government of the State of Israel".

The FTA with Israel was signed by the fifth President of Ukraine and the Prime Minister of Israel in Jerusalem on January 21, 2019.

The Verkhovna Rada of Ukraine adopted the law "On Ratification of the Free Trade Agreement between the Cabinet of Ministers of Ukraine and the Government of the State of Israel" on July 11, 2019. According in the explanatory note to the bill, the agreement aims to liberalize trade in goods between Ukraine and the State of Israel.

President Volodymyr Zelensky signed a law ratifying the FTA with Israel in August 2019.

The reason for the delay in Israel's ratification of the Agreement was the constant holding of parliamentary elections. On March 2, they were held for the third time in a row, as Prime Minister Benjamin Netanyahu was unable to form a government after two elections in April and September 2019.

As Ukrinform reported, President Volodymyr Zelensky stated that the implementation of the provisions of the Free Trade Agreement between Ukraine and Israel will help increase mutual trade to USD 2 billion.

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