In a post on his Facebook, Netanyahu wrote: "Good news for our economy is that a free trade agreement between us and Ukraine will enter into force in a month and a week. This means expanding cooperation in agriculture and high technology, as well as increasing investment and trade between us. An important step that all citizens of Israel will appreciate. Grateful to President Zelensky for working together to bring our relations to a new level”.
Earlier, President of Ukraine Volodymyr Zelensky stated that a Free Trade Agreement between Ukraine and Israel would take effect from January 1, 2021.
The Verkhovna Rada of Ukraine ratified the Ukraine-Israel Free Trade Agreement in July 2019. In August 2019, President of Ukraine Volodymyr Zelensky signed a law ratifying the FTA with Israel.
The agreement stipulates that Israel will abolish about 80% of import duties on Ukrainian manufactured goods and more than 9% on agricultural goods. Ukraine, in turn, abolishes about 70% of import duties on Israeli industrial products and more than 6% on agricultural products.
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