The Israel–United Kingdom free trade agreement (IUKFTA) is a proposed free trade agreement which began negotiations on 20 July 2022.[1] The trade agreement would be the third FTA to cover Israel–UK trade, and superseding the Israel–UK Trade Continuity Agreement, extending the deal to cover services and digital trade.[2] Trade value between Israel and the United Kingdom was worth £6,881 million in 2022.[3]
 Israel United Kingdom | |
| Type | Free Trade Agreement |
|---|---|
| Context | Trade agreement between Israel and the United Kingdom |
| Negotiators |
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| Parties | |
| Languages | |
History
From 1 June 2000 until 30 December 2020, trade between Israel and the UK was governed by the Israel–European Union Association Agreement, while the United Kingdom was a member of the European Union.[4] Following the withdrawal of the United Kingdom from the European Union, the UK and Israel signed a continuity trade agreement on 18 February 2019, based on the EU free trade agreement; the agreement entered into force on 1 January 2021.[5][6]
Negotiations
Israel and the United Kingdom formally launched negotiations for the new free trade agreement on 20 July 2022.[1][2]
The UK and Israel concluded the fourth round of negotiations on 29 February 2024.[10]
The fifth round of negotiations highlighted that trade in services comprise around 80% of both the UK and Israel’s economies, yet services only make up just over one third of total trade between the two countries; officials blamed this on the current Israel–UK Trade Continuity agreement which only covers trade in goods. The trading relationship between the UK and Israel was valued at £6.4 billion, as of September 2023.[11] A spokesperson for Prime Minister Rishi Sunak rejected the notion that the threatened invasion of Rafah would affect negotiations on the UK–Israel Free Trade Agreement.[12]
See also
References
External links
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