Israel and Korea signed FTA
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Israel and Korea signed FTA on May 12
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5/13/2021
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FTA_1
copyright: Israel Embassy Seoul
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GovXContentSection
South Korea is the first country in Asia to sign a free trade deal with Israel, and Israel is the first country in the Middle East to do so with South Korea.
South Korea is the world's 12th largest country and Israel's third-largest Asian trade partner. The free trade deal would greatly expand trade between Israel and South Korea, provide a comparative edge to Israeli industry, and lower the cost of Korean goods imported into Israel.
According to the Israeli economic ministry, more than 95 percent of Israeli shipments to South Korea would be duty-free. Israel is also negotiating similar agreements with other countries like China, Vietnam, and India.
Read more:
Israel Minister Amir Peretz's visit to Korea in summary, watch the video
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