Ukraine and Israel will begin work on expanding the agreement on a free trade zone (FTA) between the countries in the service sector and will create centers for high-tech development for the exchange of experience.
“We also agreed to immediately begin work on expanding the agreement on the service sector,” Ukrainian President Volodymyr Zelensky said during a briefing following a meeting with Israeli Prime Minister Benjamin Netanyahu on Monday.
According to Netanyahu, during the visit, in addition to expanding the agreement on the FTA, it was also decided to create centers for high-tech development in Jerusalem and Kyiv.
“Both Kyiv and Jerusalem should open centers for high-tech development. Thus, we will exchange technologies and attract Ukrainians in our high-tech industry, since we will make joint investments in this area here in Ukraine,” said Netanyahu.
According to him, at present “innovations are the quintessential development of any state,” and Ukraine has great talents and opportunities for this.
“Israeli companies work here, and we are cooperating with tens of thousands, somewhere around 50,000 Ukrainian computer engineers, mathematicians, scientists, those involved in the field of modern technology,” added the Israeli Prime Minister.
As reported, on July 11, 2019, the Verkhovna Rada of Ukraine ratified an international free trade agreement between Ukraine and Israel. On August 7, Zelensky signed draft law No. 0223 on ratification of the FTA agreement.
According to the FTA agreement, Israel abolishes about 80 percent of import duties for Ukrainian industrial goods and more than 9% for agricultural goods. At the same time, Ukraine abolishes about 70 percent of import duties on Israeli industrial products and more than 6 percent for agricultural goods.
The agreement will enter into force 60 days after ratification by the Parliament of Ukraine and the Israeli Knesset.
