Modernized Canada-Israel Free Trade Agreement now in force
Sept 6, 2019
Global Korean Post
As of Sept. 1st, modernized Canada-Israel Free Trade Agreement became in force.
Jim Carr, Minister of International Trade Diversification, issued the following statement:
“I am proud to announce that the modernized Canada-Israel Free Trade Agreement, CIFTA, is now in force.
“Canada and Israel are steadfast friends and allies, and we have an impressive number of cooperative activities taking place between our two countries. We expect this number to grow under the modernized CIFTA, as more companies take advantage of new opportunities to expand their business and create jobs for hard-working Canadians.
“As of today, the modernized CIFTA will help to reduce tariffs, ease border restrictions on goods, increase transparency around regulations, reduce red tape, and help small and medium-sized enterprises to generate more business in both countries.
“The modernized CIFTA is one of our most inclusive trade agreements to date, and is our second agreement to feature a gender chapter. We are committed to creating conditions for trade where more people can participate and benefit from the wealth it creates. This means including more small and medium-sized businesses, defending workers’ rights, encouraging the participation of women-owned businesses and protecting the environment.
“Trade drives Canada’s economy, as it does in Israel. Stronger trade deepens trust and friendship between countries, and CIFTA is no exception, bringing us closer together while we grow our middle class”