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GISMETEO.RU
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Ukraine, Israel to sign free trade deal
Journal Staff Report

KYIV, Nov 21 – Ukraine and Israel within weeks will sign a free trade agreement that calls for lower import duties in order to accelerate bilateral trade, Foreign Minister Pavlo Klimkin said Wednesday.

"In the coming weeks, we will sign our open-ended agreement on a free trade zone with Israel," Klimkin said at an international conference in Vienna.

Israel is expected to eliminate import duties for 9.2% of agricultural goods and about 80% of industrial goods, according to a source in the government.

On the other hand, Ukraine will abolish import duties on 6.8% of agricultural goods and about 70% of industrial goods imported from Israel, the source said.

"This agreement has exceptions since it provides for not full liberalization of import duties, but transitional periods until the full abolition of import duties, partial liberalization of import duties and exceptions for the preferential trade regime," the government said in draft paper.

The Cabinet of Ministers, at a meeting on Wednesday, authorized First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv to sign the free trade area (FTA) agreement with Israel.

Ukraine will retain the current tariff rates for the following goods: poultry and byproducts, frozen pork, some types of fish, dairy products, vegetables, grains, fats, finished meat products, sugar, sweets, canned vegetables, sauces, wines, tobacco products and other goods.

In absolute terms, Ukraine's exports to Israel of grain and cereals (except raw rice and wheat), dairy products, vegetable oils, oilseeds, other foods, beverages and tobacco products are likely to continue to increase, the source said.

On the other hand, imports from Israel of industrial products, also chemical products and rubber products, food products, vegetables and fruits, finished metal products, other machinery and equipment are likely to increase, the source said.

The agreement, however, may negatively affect Ukrainian textile producers, light industry and mechanical engineering firms, the source said. (om/ez)




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