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Report: Russia, Israel, to Sign Free Trade Agreement

By JNI Media February 14, 2016 , 8:30 am

“And ye shall dwell with us; and the land shall be before you; dwell and trade ye therein, and get you possessions therein.’” (Genesis 34:10)

Russian President Vladimir Putin (R) and Israeli Prime Minister Benjamin Netanyahu meeting in the Kremlin in Moscow in 2013. (Photo: Kobi Gideon/GPO/FLASH90)

Russia and Israel are about to sign a free trade agreement in the very near future, Russian Deputy Agriculture Minister Sergey Levin told TASS on Friday after talks with his Israeli counterpart.

“We’ve discussed the prospects of forming a free trade zone, which the government plans to put on paper within the shortest period of time,” Levin said, adding that the issue had also been discussed at a meeting with Deputy Prime Minister Arkady Dvorkovich.

Israeli Agriculture Minister Uri Ariel confirmed his intention to go ahead with the plan very soon.

The two sides agreed on reciprocal purchases of agricultural products, setting up joint ventures and the introduction of agricultural high-tech, Levin said. Russia would like to increase its sale of wheat, beef and eggs to Israel, while Israel, a world power in agricultural technology, is ready to share its expertise with its Russian trade partners.

Russia and Israel plan to establish a Moscow-based agricultural technological demonstration center, Ariel told TASS, adding that Israeli export to Russia has been decreasing recently due to the ruble’s devaluation, implying Israel would like to see a solution to the price gap, to encourage both exports and imports.