Ukrainian Parliament Ratifies Free Trade Agreement with Israel
Ratification completes the agreement the two countries signed in early 2019
Photo from Ukrinform-UATV
The Verkhovna Rada of Ukraine has adopted the law ratifying the Free Trade Agreement between the Cabinet of Ministers of Ukraine and the Government of the State of Israel, signed by the two countries in Jerusalem on January 21, 2019, Ukrinform reported.
A total of 230 MPs voted for the bill at a parliament meeting on July 11, 2019. At least 226 votes were necessary to pass the bill.
The ratified agreement will liberalize trade in goods between Ukraine and Israel. As stated by the text of the ratifying law, “The force of this Agreement does not apply to the territory of the Autonomous Republic of Crimea and the city of Sevastopol, as well as to the Donetsk and Luhansk regions, temporary occupied due to the armed aggression of the Russian Federation until the complete cessation of the armed aggression of the Russian Federation and the restoration of the constitutional order in the mentioned territories of Ukraine.”
According to the explanatory note to the bill, its adoption will contribute to the further development of bilateral trade and economic cooperation between the countries, allow Ukrainian producers to benefit from the liberalization of Israel’s goods market, open up opportunities for Ukrainian businessmen to expand markets and to develop and modernize their own production.