Canada expands FTA with Israel

The enhanced free trade deal will increase market access for Canadian agricultural, fish and seafood products through the reduction or elimination of Israeli tariffs.    The Canadian government has concluded negotiations with Israel this week to expand a free trade agreement already in place between the two countries.
   The enhanced FTA will expand market access for Canadian agricultural, fish and seafood products through the reduction or elimination of Israeli tariffs on a large number of products, and duty-free access under tariff rate quotas for certain products.
   In addition to the increased market access of goods, other aspects of the FTA that have been modernized include rules of origin, institutional provisions, and dispute settlement. Seven new chapters have also been included in the areas of trade facilitation, sanitary and phytosanitary measures, technical barriers to trade, intellectual property, electronic commerce, labor, and the environment.
   “Israel is a priority market for Canada and holds great potential for Canadian companies in a variety of sectors. An expanded and modernized free trade agreement will lead to a strengthened bilateral relationship as well as an increase in jobs and opportunities for Canadians and Israelis alike,” Canadian Prime Minister Stephen Harper said in a statement Tuesday.
   Since the Canada-Israel free trade agreement entered force in 1997, Canada’s two-way merchandise trade with Israel has tripled to $1.6 billion in 2014.