Minister Carr strengthens bilateral ties between Canada and Israel
June 24, 2019 - Ottawa, Ontario - Global Affairs Canada
Canada and Israel have long been connected through a legacy of friendship, mutually beneficial trading relationships and a shared conviction in democracy spanning more than 70 years.
The modernized Canada-Israel Free Trade Agreement recently received Royal Assent in Canada. Once in force, the updated agreement will improve access to the Israeli market for Canadian companies by eliminating additional tariffs, increasing transparency in regulatory matters, reducing red tape for business and making it easier for the benefits and opportunities that flow from trade to be more widely shared.
As part of Canada’s commitment to supporting Canadian businesses that export, the Honourable Jim Carr, Minister of International Trade Diversification was in Winnipeg earlier today to meet with the Jewish Federation of Winnipeg, local business champions and members of the Jewish community to highlight how Canada and Israel are creating the right conditions for trade in their innovative, knowledge-based economies, supported by the modernized CIFTA.
While in Winnipeg, Minister Carr participated in a panel discussion on deepening bilateral trade, ways to promote academic exchange and the broader Canadian-Israeli relationship.
“The economies of Canada and Israel are built on innovative and thriving business cultures that value the ingenuity and creativity of our entrepreneurs. This—in addition to longstanding ties of friendship and family between our countries—is why Canada remains committed to strengthening its economic partnership with Israel. Together, we will seize the opportunities to expand markets and create jobs for hard-working Canadians.”
- Jim Carr, Minister of International Trade Diversification
“CIFTA is a great step forward in furthering our countries’ ties, and the cornerstone for even more intertwinement of Canada and Israel.”
- Nimrod Barkan, Israel’s Ambassador to Canada
Since the original CIFTA entered into force in 1997, two-way merchandise trade between both countries has more than tripled, totalling over $1.9 billion in 2018.
Once in force, the modernized CIFTA will increase market access by further reducing and eliminating tariffs on Canadian exports to the Israeli market, including new and improved market access for virtually 100% of Canadian exports of agricultural, agri-food, fish and seafood products.
The modernized CIFTA will also address a variety of non-tariff measures through new provisions on technical barriers to trade, sanitary and phyto-sanitary measures and intellectual property.
There has never been a better time to diversify Canada’s trading routes, which is why accessing new markets around the world is at the forefront of the trade diversification strategy.
Existing bilateral pacts with nations such as Chile, Israel, Korea and Peru and more recent landmark multilateral agreements like the CETA and CPTPP are indicative of Canada’s global approach to securing more opportunities for Canadian exporters and investors.
With those trade deals in hand, Canada now benefits from preferential market access to an estimated 1.5 billion consumers through 14 trade agreements to 51 countries, totalling a combined GDP of US$50 trillion.
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