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UK launches 8-week consultation on trade with Israel for future FTA

By February 4, 2022No Comments

International Trade Secretary Anne-Marie Trevelyan has launched a consultation today (2 February) for a new UK-Israel trade deal, during a 3-day visit to Israel and the Occupied Palestinian Territories. The 8-week consultation will seek the views of the public and business on an enhanced trade deal.

The UK is Israel’s third largest trading partner, with £2.7 billion worth of British exports going there in 2020 and an overall trade relationship worth £4.8 billion. During her three-day visit the Secretary of State will encourage greater collaboration between UK and Israeli tech industries. She will meet key Israeli investors in the UK, host a reception of leading technology businesses and visit Tel Aviv’s new light rail metro project to identify opportunities for UK firms to be involved in the project.

The Government says that a new agreement will aim to play to the both countries’ strengths as fellow tech superpowers, “boosting our strong trade and investment relationship in industries of the future like digital, services and life sciences and creating high-paying jobs across the country”.

The UK has confirmed plans for a UK-Israel Innovation Summit this spring, with Israeli PM and a trade delegation set to attend.

“We’re using our independent trade policy to revitalise old agreements we inherited from the EU. Unlike in the past, we can now work with friends and allies like Israel to strike deals that are truly tailored to our strengths in areas like digital trade, services and life sciences”, said International Trade Secretary, Anne-Marie Trevelyan.

The link to respond to the Consultation can be found here. The deadline for responses is 11.45pm on 30 March 2022.