Groysman calls on Ukraine, Israel businesses to boost trade turnover without waiting for FTA ratification

16:22, 20 August 2019
Economy
212 0
Photo from UNIAN

Ukrainian Prime Minister Volodymyr Groysman has called on business circles in Ukraine and Israel to increase trade turnover and cooperation in the agricultural sector, engineering and innovation before the final ratification of the Free Trade Area Agreement in September 2019.

Read alsoZelensky signs law on ratification of FTA agreement between Ukraine, Israel

"We have lifted visa barriers for our citizens. And now we are launching free trade zone, and we are talking about expanding FTA to services, co-investment mechanisms, etc. That is why I urge our business communities to increase their trade turnover. Our synergy is in the agricultural sector, engineering, and innovation," the Cabinet's press service quoted Groysman as saying at a meeting with Ukrainian companies, which was attended by Israeli Prime Minister Benjamin Netanyahu.

In turn, the Prime Minister of Israel emphasized that such cooperation always brings benefits to the states, both in business and in administrative aspects because a free trade also reduces barriers in the segment of state regulation.

Netanyahu also noted the need to expand the agreement between the two states on a free trade area, which will include the service sector and high technology. He proposed that the relevant offices be opened in Ukraine and Jerusalem, encouraging creation of joint ventures.

Trade turnover between Ukraine and Israel has exceeded US$445 million over six months of 2019, the press service said.

As UNIAN reported earlier, on August 6, Ukrainian President Volodymyr Zelensky signed the law ratifying the agreement between the Cabinet of Ministers of Ukraine and the Government of Israel on a free trade area.

On August 19, Netanyahu during his working visit to Ukraine said the agreement on a free trade area would be ratified after the snap elections to the Knesset scheduled for September 17.

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