Israel to ink free trade deal with S.Korea


Tel Aviv, May 10 (IANS): Israel and South Korea will sign a free trade agreement this week, officials said here.

The deal, the first of its kind Israel will have with an Asian country, is expected to be signed in eoul during a two-day visit by Israeli Foreign Minister Gabi Ashkenazi and Economy and Industry Minister Amir Peretz, Xinhua news agency quoted a joint statement issued by their offices on Sunday as saying.

Under the deal, imported product from Israel and South Korea will be exempt from duty in both countries.

The deal "is expected to significantly increase mutual trade between Israel and Korea" ,said the statement.

Israel hopes that the arrangement will give the Israeli industry "a competitive advantage and facilitate the activity of businessmen in the Korean market".

Ashkenazi said the deal is expected to help reduce Israel's high living cost by lowering import costs from ROK to Israel.

Peretz said Israel is in negotiations on new free trade agreements with China, Vietnam and the Eurasian Economic Union which includes Russia, Armenia, Kazakhstan, Kyrgyzstan and Belarus.

 

  

Top Stories


Leave a Comment

Title: Israel to ink free trade deal with S.Korea



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image