Photo from delo.ua
The Ukrainian president was also present at the official signing ceremony.
Ukraine's Minister of Economic Development and Trade Stepan Kubiv and Israel's Minister of the Economy and Industry Eli Cohen have signed an agreement on a free trade area between the two countries.
The ceremony was attended by Ukrainian President Petro Poroshenko and Israeli Prime Minister Benjamin Netanyahu, the Ukrainian president's press service said.
"This is a historic day in the relations between Israel and Ukraine," Poroshenko said. "A historic day, as we have removed all the barriers in our economic ties."
Read alsoPoroshenko: Ukraine-EU trade grows by 40% in past three years
Poroshenko says he is convinced that the signing of the free trade agreement between Ukraine and Israel will not only promote cooperation between the two countries, but also improve the lives of people in both states.
"We made one hundred pages in one year, and in total, it is one and a half thousand pages. And this became possible after our meeting in New York with the Prime Minister [Netanyahu], then we met in Paris, where we actually finished everything. And one month after we completed all negotiations," he said.
"We also plan to launch a new agreement on free trade of services – this is a wonderful idea," Poroshenko added.
As UNIAN reported, Ukraine and Israel on March 28 last year completed negotiations on the creation of a free trade area. The parties also approved a plan for further signing of the agreement, including a legal verification of the text of the agreement and its transfer to the relevant authorities of both countries. On November 21, Ukraine's Cabinet of Ministers approved a draft free trade agreement between Ukraine and Israel and authorized First Deputy Prime Minister and Minister of Economic Development and Trade of Ukraine Kubiv to sign it.