Agreement has been signed to further liberalise trade in agricultural and processed agricultural products and fish and fishery products between the European Union and the State of Israel. The agreement represents a major step forward in the integration of the EU and Israeli markets.
It is said that for processed agricultural products, a level of full liberalisation of trade for both parties as high as 95 percent has been achieved. As far as the agricultural, fish and fishery products are concern a substantial progress was made towards full liberalisation of trade. According to the sources in the absence of a standstill clause for agricultural products, the Israeli side agreed to bind the applied tariff rates to a maximum below the MFN bound rates for around 200 tariff lines.
Experts believe that this agreement will open new roads for the collaborations of the fishing and aquaculture industry between European Union and Israel. It will also benefit each other to access the markets of respective states. Liberlisation will respect the entry price system without any further modification in relation to the currently applied situation. It is opens new avenues in the development of aquaculture industry of both sides.
