News
26.09.2009
Israel pushing for a free trade zone with Ukraine
A free trade zone may be created between Ukraine and Israel. In particular, according to Deutsche Welle, Israel’s association of chambers of commerce has launched a process of lobbying for an appropriate initiative in the Israeli government.
We have to notice that as soon as a year after the beginning of the global economic crisis its consequences have already affected the trade volume between Ukraine and Israel.
So, the commodity turnover between the two countries decreased by 16% in the first half of 2009.
At the same time, Israel’s export to Ukraine dropped by 66%. In opinion of economists who discussed this statistics in Tel-Aviv within a meeting of Eurochambers (the largest European Association of commerce and industry chambers), the exporters and importers are hampered by bureaucratic obstacles apart from the crisis’ consequences.
Right for this reason, Israel’s influential lobbyist organization – Association of Chambers of Commerce – has initiated the establishment of a free trade zone with Ukraine. According to representatives of the Association, this initiative was favorably taken by the Israeli government. In the near future, experts will hand over a package of proposals to the Minister of Commerce and Industry.
