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S. Korea and Israel sign FTA

2019-08-21 21 Dailymotion

한-이스라엘 FTA 최종 타결<br /><br />After three years of negotiations, South Korea has signed a free trade agreement with Israel.<br />The trade agreement will remove tariffs on over 97 percent of Korea's exports to Israel and over 99 percent of Israel's exports to Korea.<br />Tariffs on some of Israel's agricultural exports such as rice and garlic will still face tariffs.<br />South Korea's trade ministry said the bilateral deal will help strengthen technological exchanges including machines and biohealth between the two countries.<br />The free trade deal makes Korea the first Asian country to sign a trade deal with Israel, and is expected to boost bilateral trade, which recorded 2-point-seven billion U.S. dollars in 2018.<br />

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