Foreign Affairs, Trade and Development Canada 2014-12-09
The Honourable Ed Fast, Minister of International Trade, today announced the start of the third round of negotiations to expand and modernize the Canada-Israel Free Trade Agreement (CIFTA). The negotiations are taking place in Jerusalem from December 7 to 11, 2014, and will cover a range of issues.
An expanded and modernized agreement will support Canadian businesses and investors, deepen trade and investment linkages and further strengthen Canada’s bilateral relationship with Israel.
Prime Minister Stephen Harper announced the launch of negotiations during his official visit to Israel last January.
Israel is a priority market for Canada under the Global Markets Action Plan.
CIFTA is a cornerstone of Canada’s commercial relationship with Israel.
Since CIFTA came into force in 1997, Canada’s two-way merchandise trade with Israel has more than doubled.
Key opportunities for Canadian companies exist in sectors such as defence, information and communications technology, life sciences, sustainable technologies, agriculture, agri-food, and fish and seafood.
“Israel is a priority market for Canada and holds great potential for Canadian companies in a variety of sectors. A deeper and broader free trade agreement will lead to a strengthened bilateral relationship and an increase in jobs and opportunities for Canadians and Israelis alike.”
– Ed Fast, Minister of International Trade
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