Israel, EU agree on new agricultural trade agreement

The new agreement provides for the first time trade concessions in the fields of agricultural products, processed agricultural products and fisheries
 
A new agricultural trade agreement between Israel and the European Union was initialed last week.
 
The new agreement provides for the first time trade concessions in the fields of agricultural products, processed agricultural products and fisheries.
 
Meirav Gonen, head of the international agreements unit of the Ministry Industry, Trade and Labor department of foreign trade, called the agreement a historical one, and very important for the Israeli agricultural sector.
 
The Delegation of the European Commission to the State of Israel issued an announcement indicating that, "Once adopted, the agreement will create new trade opportunities for EU exporters in a range of products that could not previously reach the Israeli market. On the other hand, Israel's major exporting sectors will greatly benefit from further liberalization and better market access. The result is a balanced deal”.
 
The agreement provides for the exemption of 95% of processed food items from limitations of levies or quotas. Quotas on fresh agricultural exports to the EU have also increased under the agreement, although protective provisions for fresh European produce remains relatively broad.
 
The agricultural agreement applies to about $1 billion in Israeli exports, and European imports totaling about Euro 500 million. The EU market constitutes a very large slice (75%) of Israel's total fresh and processed agricultural products exports.
 
Gonen noted, however, that among the products that will not be able to enjoy the newly available customs benefit to the European market are turkey cold cuts and meat sausages.
 
Israel has maintained protective regulation on corn products as well as on some bakery goods.