«Ukrainian business projects will be able not only to enter the Israeli markets, but also to find new reliable partners and investors there» — Lozhkin

Україна та Ізраїль підписали угоду про вільну торгівлю
22/01/2019

On January 21, after 10 years of negotiations, the free trade agreement between Ukraine and Israel was signed. The document will be ratified by both parliaments in the nearest future.

«These are great opportunities for both economies», — says JCU President Boris Lozhkin. In 2017, the trade turnover between Israel and Ukraine amounted to $772.49 million, or 14.7 % more than in 2016. «Potentially in the nearest years we can reach a turnover of at least $2 billion, and within 10 years — starting from $5 billion», — he thinks.

Lozhkin believes the spheres of agriculture, tourism, hydrocarbons processing, communications, medicine, energy efficiency, IT and ecology are the most promising for cooperation.

«What is important: in all these spheres we can not only trade, but also create efficient joint projects», — Lozhkin stressed. The volume of foreign direct investments from Israel to Ukraine now amounts to just a little over $ 55 million. «I believe that this figure is only the beginning. Ukrainian business projects will be able not only to enter the Israeli markets, but also to find new reliable partners and investors there. Ukraine is at the beginning of the route, which Israel has already covered. And the more experience we can learn from each other, the more successful our common future will be», — says Boris Lozhkin.