Report: Russia, Israel, to Sign Free Trade Agreement

“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 (The Israel Bible™)

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.

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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.