The UK has agreed one of the first post-Brexit free trade deals in principle with Israel, International Trade Secretary Rt. Hon. Liam Fox MP announced at the World Economic Forum at Davos today.
Announcing the future deal alongside Israel’s minister of the economy Eli Cohen, Mr Fox said: “I’m delighted that as Britain prepares to leave the European Union and to ensure continuity for our business in both directions, we’ve reached agreement in principle today with our colleagues in Israel and I’m very grateful to Minister Cohen for all the help that he’s given us”.
The International Trade Secretary underlined: “Israel has been one of the most cooperative and productive partners in this relationship where our trade is already strong and set to grow further”.
Mr Fox added: “For us, the continuity as we leave the European Union will be a precursor to an even more ambitious agreement in the future and I look forward to the trade and investment conference that we will be holding together in London in the coming months. The date will be announced shortly”.
Israel’s Economy Minister Eli Cohen said: “I want to thank you personally Minister Fox for all that you have done so that we will be able to conclude today the free trade agreement between Israel and Britain. Only in the last year in 2018, our trade with you surpassed $10 billion for the first time in history, and I am sure that this free trade agreement will help us to accelerate and increase even more and strengthen our economic relationship”.
Watch the video announcement in full here.
In May 2018, CFI coordinated its first ever trade-focused delegation to Israel with eight senior Conservative parliamentarians, led by former Chief Whip Rt. Hon. Mark Harper MP, to celebrate record UK-Israel trade, and to explore and promote a future post-Brexit trade deal. Read more about the CFI trade delegation here.
