On July 11, 2019 the Verkhovna Rada of Ukraine has ratified the Free Trade Agreement with Israel. Under the terms of agreement Israel will open 80% of the manufactured goods market for Ukraine and Ukraine will open 70% of its market for Israel. For the rest of the goods, separate transition periods are envisioned by the agreement.

It should be mentioned that Israel is one of 20 focus markets for Ukraine according to the Export Strategy.

The Israeli market is considered to be rather closed, with high import duties on different groups of product. So, the Free Trade Agreement with Israel will open better opportunities and a lot of trade benefits for Ukrainian exporters, including Ukraine-EU-Israel form of trade.

It is estimated by the Ministry of Economic Development of Ukraine, that the Free Trade Agreement with Israel allows preserving and broadening of the traditional Ukrainian exports, especially exports of agricultural products, and opening new export opportunities for goods with high added value.