British Trade Minister Liam Fox Visits Israel
27 November, 2018 |
7 years ago
Jerusalem, 27 November, 2018 (TPS-IL) -- British trade minister Liam Fox is visiting Israel on Tuesday to discuss post-Brexit trade arrangements with major Israeli investors and fast growing tech companies ,the British Embassy in Israel said in a statement .
Fox will meet Prime Minister Benjamin Netanyahu as well on Wednesday.
“Britain’s relationship with Israel is stronger than it has ever been with record levels of bilateral cooperation in trade, investment, science and technology. 2017 alone saw more than $9 billion worth of goods trade between our two countries.Ensuring continuity for our businesses is the best foundation for growing two-way UK-Israel trade and investment. The complementary nature of our economies in areas like science and technology, where we are both global leaders, gives us an obvious opportunity to increase our already record-breaking levels of bilateral trade.” said Fox in a statement .
As the UK leaves the European Union, the Department for International Trade is seeking to replicate existing EU free trade agreements and other EU preferential arrangements as it leaves the bloc . This includes the EU-Israel Association Agreement.
The British Embassy said 2017 was a record year for UK-Israeli trade, with goods traded between both countries exceeding $9 billion. UK exports to Israel are also up 75% in the first half of 2018. This is due to strong export growth in areas like life sciences and food and drink, with Scotch whisky sales increasing by 300% since 2012.
