Sunday, March 27, 2022

Israel on way to free trade with China, India, UAE and other countries

Good news!

"If all goes according to plan, by the end of 2022, Israel will have free trade agreements with several more countries. This will mean no customs tariffs on most goods, and dramatic reductions in tariffs on others, among them fresh produce, and dairy and other food products. ...
The list of countries is long, but some of them stand out. China and India, with which talks on free trade agreements have been going on for two years, together represent a quarter of the world's population. These two countries are huge exporters of food products, and their food companies can shortly be expected to be selling in Israel. The pace of the negotiations with India has been stepped up recently. Israel is also negotiating a free trade agreement with the Eurasian [Economic] Union. This group of countries is led by Russia, and the negotiations will be delayed because of the war in Ukraine. Other members of the group are Belarus, Kirgizstan, and Armenia.

Negotiations are at a very advanced stage with the United Arab Emirates (UAE), and will probably result in an agreement in the summer. The Abraham Accords rapidly brought about economic cooperation between the UAE and Israel, and within eighteen months trade was flourishing. ..."

Israel on way to free trade with China, India, UAE - Globes By the end of 2022, agreements with these and other countries will abolish tariffs on most goods, and substantially cut tariffs on food products.

No comments: