The document was signed last January in Jerusalem and since then has passed all necessary State procedures in both countries.
The treaty does not cover the annexed Crimea and those areas of the Donetsk and Luhansk regions that are not under control of Ukraine. This will continue until the full end of the armed aggression of Russia and the restoration of the constitutional order in the occupied territories.
In commenting on the coming into force of the treaty, President Zelenskyy had this to say, “It is a new level of relations between our countries and the green light to the growth of Ukrainian export, to a closer cooperation in the fields of high technologies, engineering, and the further development of investment cooperation”.
For instance, the overall trade turnover between Ukraine and Israel last year stood at 1.116 billion dollars. According to prognoses of the Foreign Ministry of Ukraine, the zone of free trade will make it possible to double the short-term mutual trade turnover.
The treaty abolishes import duties for almost 80% of Ukrainian industrial goods to Israel. Due to the abolishment of import duties for 70% of Israeli industrial products, the high-technology investment import to Ukraine will become possible, the Ministry of Economic Development and Trade of Ukraine reports.
Israel is the forty-sixth country with which Ukraine has signed the agreement about the creation of a free trade zone.
The newspaper Voice of Ukraine
