NEWS RELEASES
CANADIAN AND ISRAELI NEGOTIATORS REACH TENTATIVE AGREEMENT ON PROPOSED FREE TRADE AGREEMENT
January 14, 1996 No. 4
CANADIAN AND ISRAELI NEGOTIATORS
REACH TENTATIVE AGREEMENT ON PROPOSED
FREE TRADE AGREEMENT
The Honourable Roy MacLaren, Minister for International Trade, announced today
that Canadian and Israeli negotiators have reached a tentative agreement on the
proposed free trade agreement between the two countries.
The tentative agreement, which must now be reviewed by both governments, would
establish a free trade regime between Canada and Israel featuring full tariff
elimination on all manufactured goods and an agricultural and fisheries package
involving goods of export interest to each country.
The agreement is still in draft form, and officials will continue to work at the
technical level in the coming weeks. Details about specific provisions of the
agreement will be released once the text is finalized and approved by both
governments. It could go into effect on July 1, 1996.
The initiation of negotiations was announced by Prime Minister Chrétien on
November 24, 1994, following a meeting in Ottawa with the late Israeli prime
minister, Yitzhak Rabin.
A free trade agreement with Israel will ensure Canada has access to the Israeli
market on terms equivalent to those of the United States and the European Union,
which already have free trade arrangements with Israel.
"This agreement will enable Canadian companies pursuing business opportunities in
Israel to compete on an equal footing with their international competitors," Mr.
MacLaren said.
The agreement will apply to the West Bank and Gaza by virtue of the customs union
negotiated between Israel and the Palestinian Authority. Canada has offered to
negotiate free trade agreements with other countries in the Middle East.
Liberalized trade would contribute to economic development in the region and
further the Middle East peace process.
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Department of Foreign Affairs and International Trade
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