Customs Union and Israel can create free trade zone
A joint team involves experts from the Eurasian Economic Commission, the ministries and departments of the Customs Union and Israel. According to the Minister for Trade of the Eurasian Economic Commission Andrei Slepnev, "the task of the study group is an in-depth analysis of prospects for the creation of free trade zone between the two countries." "The group should determine what issues such agreement may cover, and outline possible approaches to mutually resolve sensitive issues for specific industries," Slepnyov said. Following its work, the experts will present a special report and recommendations on the basis of which it may be decided to start negotiations on a free trade zone between the CU and Israel. The EEC believes that modern free trade agreements are aimed at creating favorable conditions for the further development of trade and economic cooperation. In addition to the classic questions of trade liberalization through the reduction of customs duties, such agreements often include other issues, such as trade in services, measures to facilitate mutual investment, cross-border trade in services, provide adequate protection and promotion of investments.
