On November 21, the Cabinet of Ministers of Ukraine approved the draft  Free Trade Agreement between Ukraine and Israel and authorized First Vice Prime Minister/Minister of Economic Development and Trade of Ukraine Stepan Kubiv to ink it.

The work on the development of the Agreement was triggered in 2013. Before the final completion of the negotiation process on March 28, 2018, seven rounds of talks had been held between the two countries in order to harmonize the provisions of the Agreement aimed at removing barriers to mutual trade in goods and services, promoting cooperation between enterprises, establishing strong ties between business circles.

According to the estimates of the Ministry  of Economic Development and Trade, the signing of the Agreement will allow to increase Ukrainian exports to Israel and improve Ukraine's trade balance with Israel.