This article deals with the recent developments in conclusion of a #free trade zone #agreement between #Ukraine and #Israel, which was initially planned to execute by the end of 2016.
The delegation of the Ministry of Economic Development and Trade of Ukraine attended the meeting with their Israeli colleagues in Jerusalem regarding conclusion of free trade agreement between Ukraine and Israel. We note that this is the third meeting of such kind.
At the meeting the main controversial and disputed issues of the agreement were discussed, such as institutional, general and final provisions, customs procedures, rules for establishment of the origin of goods, regulation of trade in goods, dispute settlement, etc.
It expected that following the meeting the Ukrainian delegation will discuss such issues and proposals with the representatives of Ukrainian business, business and trade associations, and also companies which are already involved in trade with Israel or have plans to commence such trade.
We note that following visit of the President of Ukraine to Israel in December 2015 Ukraine and Israel signed a number of other important bilateral economic collaboration agreements were signed in the areas of air traffic, employment and education.
Also, we note that in 2015 Ukraine was trading with 217 countries. Diversification of trade partners seems to be the latest trend in the Ukrainian economy. Following launching of EU-Ukraine free trade zone from 01 January 2016, the Canada-Ukraine Free Trade Agreement was signed on 11 July 2016. In addition, it was announced that in 2016 Ukraine seeks to conclude free trade zone agreement with Turkey. In addition, Ukraine aims to strengthen its business and trade cooperation with China through implementation of a new trade route between Ukraine and China, which is designed for transportation of goods avoiding the territory of the Russian Federation. On 15 January 2016, the first cargo was loaded on a ferry in the Ukrainian port of Illichivsk to be transported to China via Black and Caspian seas and railway routes through Georgia, Azerbaijan and Kazakhstan. It reached the Chinese border in 16 days.