Israel, EU agree on agriculture trade

The deal is described as a major step forward in the integration of the EU and Israeli markets.

The European Commission and Israel reached a common understanding today on mutual trade concessions in the fields of agricultural products, processed agricultural products and fisheries. According to the Delegation of the European Commission to the State of Israel, these trade concessions represent a major step forward in the integration of the EU and Israeli markets.

For processed agricultural products, a high level of full liberalization of trade for both parties was achieved. For agricultural products, substantial progress was made towards full liberalization of trade. Regarding more sensitive agricultural products, market access improvement was achieved for both sides both by means of increasing existing duty free quotas and by creating new quotas.

Technical verification of the text of the understanding will take place over the next few weeks before launching the formal process for the adoption of the agreement.

The Delegation of the European Commission to the State of Israel's announcement said, "Once adopted, the agreement will create new trade opportunities for EU exporters in a range of products that could not previously reach the Israeli market. On the other hand, Israel's major exporting sectors will benefit from further liberalization and better market access. The result is a balanced deal ."

Published by Globes [online], Israel business news - www.globes.co.il - on April 30, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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