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Agreement On The Establishment Of A Free Trade Area Between The Government Of Israel

The ESTV contains a non-binding Memorandum of Understanding to remove barriers to trade in services such as tourism, communications, banking, insurance, business advice, accounting, law, IT services and advertising. It also contains an agreement to remove all restrictions on public procurement and calls on Israel to relax its compensation requirements for government authorities other than the Israeli Ministry of Defence. The U.S.-Israel Free Trade Agreement (FTA) came into force in 1985 and is the first U.S. free trade agreement. It continues to serve as the basis for the expansion of trade and investment between the United States and Israel by removing barriers and promoting regulatory transparency. In 2017, exports of U.S. goods to Israel decreased by 4.9% compared to 2016, reaching $12.5 billion. Since 1985, when the U.S.-Israel Free Trade Agreement came into force, U.S. exports to Israel have increased by 456%, although the United States has experienced a bilateral deficit of $9.4 billion in 2017. Israel is currently our 24th largest trading partner for goods, with a total of $34.5 billion (two and also) goods in 2017. Exports of goods amounted to $12.6 billion; Imports of goods amounted to $21.9 billion.

In 2017, the U.S. trade deficit with Israel was $9.4 billion. On 1 January 1995, all products manufactured in Israel that were eligible for reduced tariffs under the agreement were exempt from tariffs. [1] [4] Services trade with Israel (exports and imports) was estimated at $13.2 billion in 2017. Services exports were $5.9 billion; Imports of services amounted to $7.4 billion. The services trade deficit with Israel was $1.5 billion in 2017. Israel FTA Text: The full text of the agreement. Non-tariff barriers remain in the areas of intellectual property rights, technical standards and regulations, as well as the lack of transparency in government tendering procedures. In addition, tariff and non-tariff barriers continue to affect some of U.S. agricultural exports. As a result, the United States and Israel signed an Agricultural Trade Agreement (ATAP) in 1996 that established a gradual and steady liberalization of access to food and agricultural markets effective December 31, 2001.

Negotiations and the implementation of an ATAP successor were completed in 2004. It came into effect on December 31, 2008 and was extended until December 31, 2010 and again until December 31, 2011. The free trade agreement between the United States and Israel was the first free trade agreement of its kind by the United States. [2] This is the only free trade agreement signed by the United States that does not contain a chapter on intellectual property rights that are an integral part of all subsequent U.S. trade agreements. [3] The Free Trade Agreement between the United States and Israel is a 1985 trade pact between the State of Israel and the United States of America to reduce barriers to trade in certain products.