Ukraine and Israel technically initialed the Free Trade Agreement with Israel, making another step on the way to Free Trade Zone, Trade Representative of Ukraine Natalia Mikolskaya reported in Facebook.
“It is technical, but important procedural question that gives the opportunity to conduct legal reconciliation of the wording of the Agreement for further translation into three languages and preparation of the Agreement for signing”, Mikolskaya wrote.
Before the signing, the parties do not have any legal obligations. Only after ratification, the agreement will be a compulsory document for fulfilment.
Mikolskaya noted that the free trade agreement immediately opens Israel’s industrial goods market for 80%, and Ukraine’s – for 70%. For other goods, the transitional periods are fixed. The exception is only for jewelry from both sides.
During the first two months of this year, the export of Ukrainian goods to Israel made up USD 116.6 mln.