Ukraine and Israel are close to a free trade agreement. The agreement has been under negotiation since 2013.

The Israeli market is already familiar with Ukrainian products. Israel is a market to which Ukrainian products can be delivered via the Black Sea. Ukraine’s agriculture and industrial producers will also benefit from the deal.

Israel is a focus market for Ukrainian businesses since Israel is a market that imports a lot.

The agreement is of great importance to both countries and their international relations. In 2017, exports of goods from Israel to Ukraine amounted to approximately 125 million dollars. After the agreement comes into force, Israeli exports will benefit in such areas as the chemical industry, plastic and rubber products, medical equipment and more.

The agreement is expected to increase bilateral trade by about 15 per cent.

The trade agreement will have an effect not only on trade dynamics but also on foreign direct investment inflows to Ukraine coming from other countries that want to export to Israel. It will provide more opportunities in production cooperation between Ukrainian and Israeli businesses in sectors such as hi-tech, engineering, telecommunications, and processing equipment for the food industry.

Ukraine may allow Israelis to visit Jewish holy shrines in Uman and other Ukrainian cities.