Today: 30 May 2025
3 February 2022
1 min read

Israel, UK agree to upgrade FTA

Israel and the UK have agreed to upgrade the free trade agreement (FTA) between the two countries…reports Asian Lite News

Agreed at a meeting held in Jerusalem between Israeli Economy Minister Orna Barbivai and the UK’s Secretary of State for International Trade Anne-Marie Trevelyan, the new trade deal will lead to the removal of barriers in the goods and services trade between the two countries, Xinhua news agency reported citing the statement as saying.

The FTA between Israel and the UK was signed in 2019 and took effect at the beginning of 2021.

Since the agreement was based on Israel’s trade agreement with the European Union signed back in 1995, the two countries are interested in a more up-to-date and modern agreement, according to the statement.

ALSO READ: UK takes first steps towards new trade deal with Israel

The Ministers also discussed the creation of joint platforms for businesses and the details of a planned Britain-Israel innovation summit this spring, with the participation of senior government officials, business representatives, chambers of commerce and more.

With a trade volume totalling $7.7 billion last year, the UK is Israel’s third largest trading partner, as China and the US top the list.

Previous Story

More than a million Afghans fled to Iran as economy collapses

Next Story

US special ops raid in Northwestern Syria kills 13

Latest from Arab News

Turkey’s Jet Roars, West Watches

It is visible that Turkey is intentionally reducing reliance on U.S. and Western military imports, especially F-16s and the failed F-35 partnership, to achieve strategic independence….writes Ankit V In 2016, Ankara announced

‘Op Sindoor’ Team Wraps Up Saudi Visit

The visit reaffirmed the shared commitment of India and Saudi Arabia in the fight against terrorism….reports Asian Lite News Riyadh, May 30 (IANS) The Indian all-party delegation, led by BJP MP Baijayant

White House: Israel OKs Gaza Truce

Hamas said Thursday that its leadership had received a new Gaza ceasefire proposal from Witkoff through the mediators and was studying it…reports Asian Lite News The White House said that Israel has

UAE Advances AI Leadership

These leaders shared their personal experiences in the programme and reflected on how it helped deepen their expertise in AI and related leadership fields The UAE has launched the sixth cohort of

Saudi backs India’s strategic outreach

In a series of engagements, the Indian delegation met Saudi Arabia’s Minister of State Adel Al-Jubeir and other senior officials. A high-profile Indian all-party parliamentary delegation, led by BJP MP Baijayant Jay
Go toTop

Don't Miss

India Mulls Direct Listing of Businesses on LSE

Chancellor Jeremy Hunt shared that India’s interest in direct listings

UAE slams external meddling in Arab affairs

The UAE on Monday issued a forceful rejection of external