Israel has signed FTAs with Canada, Colombia, EFTA, Egypt, the EU, Jordan, Mercosur, Mexico, Panama, Sri Lanka, Turkey, the US and Vietnam. It is currently negotiating an FTA with India, slated for completion in 2012, and is still eyeing possible deals with Colombia, South Korea, Russia, Thailand and the Ukraine.
last update: Septiembre 2016
Brazilian President Luiz Inácio (Lula) da Silva met with President Shimon Peres in Jerusalem today and said that Brazil had given its final approval for a free trade agreement between Israel and the Mercosur bloc (Brazil, Argentina, Uruguay and Paraguay). The FTA will come into effect in April.
Trade negotiations with New Delhi are a big step for Israel
Israel on Monday said it wants to push for a free trade agreement with India with an objective of tripling bilateral commerce to USD 12 billion over the next four-five years.
The decision by Brazil’s House of Representatives last week to approve a free trade agreement for Israel with Mercosul, the South American free trade area, could have enormous economic consequences for the Jewish state, a member of the delegation traveling with Peres has told reporters in the president’s entourage.
The US-Israel Free Trade Area became law in 1985, but ongoing violations of American intellectual property rights and trade laws are fueling heavy losses of American jobs. As the US economy declines many are trying to separate myths from facts about America’s first bilateral trade agreement.
Global pharmaceuticals companies, which often argue that Israel should pass stricter legislation to protect intellectual property, have received support from an unexpected corner recently: the Institute for Research: Middle Eastern Policy (IRmep) has filed an urgent petition to the United States Trade Representative demanding the immediate suspension of preferential Israeli access to the US market under the Free Trade Area agreement.
According to a chart of lost revenues and jobs between 1999 and 2008, the last 10 years of the FTA with Israel, the jobs lost to the American public is now an irreversible attribute of the US-Israeli trade relationship.
Newly released Freedom of Information Act documents reveal details of trade secrets leaked during negotiations of America’s first trade agreement with Israel.
Recently it was reported that Israel and Mexio signed an amendment to their FTA of 2000 aimed at solving a problem faced by many companies that want to transit products made in either Israel or Mexico through a third country, such as the US or the EU.
The newly signed amendment allows for goods originating in Israel or Mexico to undergo minimal processing or storage in a third country such as the US or EU, and still retain duty-free status.