UK Opens Consultation Period for UK-Israel Free Trade Agreement
The United Kingdom announced the start of consultations with Israel over a trade deal during International Trade Secretary Anne-Marie Trevelyan's three-day visit to the Middle Eastern nation. Starting Feb. 2, the consultation period will run for eight weeks and seek the advice from concerned individuals and businesses over what they would like to see in any potential U.K.-Israel free trade agreement. The Department for International Trade said that the U.K. is Israel's third-largest trading partner with an overall trade relationship of over $6.5 billion.
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"We’re using our independent trade policy to revitalise old agreements we inherited from the EU," Trevelyan said. "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. This new trade agreement is part of our commitment to build a stronger relationship with Israel and is a huge opportunity to deepen ties with a fellow democracy and tech superpower so together we can create well-paid, high value jobs in both countries."