Ottawa, Ontario - Foreign Affairs, Trade and Development Canada

The Honourable Ed Fast, Minister of International Trade, today announced the start of the second round of negotiations to expand and modernize the Canada-Israel Free Trade Agreement (CIFTA). The negotiations are taking place in Ottawa from May 26 to 29 and will cover a range of key issues.

An expanded and modernized CIFTA will enhance bilateral commercial flows by reducing technical barriers, enhancing cooperation, increasing transparency in regulatory matters and reducing transaction costs for businesses. Prime Minister Stephen Harper announced the launch of negotiations during his official visit to Israel last January. 

Israel is identified as a priority market under Canada’s Global Markets Action Plan.

Quick Facts

• CIFTA is a cornerstone of Canada’s commercial relationship with Israel.
• Since CIFTA came into force in 1997, Canada’s two-way merchandise trade with Israel has more than doubled to over $1.43 billion in 2013.
• Key opportunities for Canadian companies exist in sectors such as defence, information and communications technology, life sciences and sustainable technologies.

Quotes

“The Israeli market presents Canadian companies with a full range of business opportunities. As we continue to deepen our economic ties with Israel, the modernization of our current free trade agreement will create jobs and opportunities for Canadians and Israelis alike.”

Ed Fast, Minister of International Trade