Us Israel Free Trade Agreement

8. The temporary measures in paragraphs 2, points (a) and 2 (b) apply to all imports, with the exception of the fact that certain imports may be excluded if their exclusion improves the effectiveness of measures that are in line with the objectives of paragraph 1. Recognising that Israel`s economy is still developing and that it wishes to contribute to the harmonious development and expansion of world trade; 4. The exporter`s declaration on this certificate is certified notarized by a notary and certified by a local economic organization formed accordingly, for example. B a chamber of commerce or a board of commerce. In bilateral economic relations, the United States is Israel`s largest trading partner and Israel is the 24th largest trading partner of the United States. With a trade deficit of $8 billion in 2014, total goods imported into the United States amounted to US$23 billion and goods exported to US$15 billion. [6] The main imports and exports between the United States and Israel are precious stones/diamonds, machinery, pharmaceuticals, medical investments and agricultural products. Major U.S. imports from Israel totaled $9.4 billion in 2014 and $4.6 billion in drugs. In 2014, imports of machinery, electrical machinery and optical/medical instruments amounted to approximately $1.5 billion.

[7] 1. A contracting party may apply temporary trade measures when threatened or suffers from a severe balance-of-payments situation. A party can only impose temporary trade measures to give time to take macroeconomic adjustment measures to address its balance-of-payments problems. Temporary trade measures authorized under this paragraph are not used to protect certain sectors or sectors. Non-tariff barriers remain in the areas of intellectual property rights, technical standards and regulations, as well as lack of transparency in tendering procedures. In addition, tariff and non-tariff barriers continue to affect some of U.S. agricultural exports. As a result, the United States and Israel signed an Agricultural Trade Agreement (ATAP) in 1996 that established a gradual and steady liberalization of access to food and agricultural markets effective December 31, 2001. Negotiations and the implementation of an ATAP successor were completed in 2004.

It came into effect on December 31, 2008 and was extended until December 31, 2010 and again until December 31, 2011. B. Before a party commits to take, unilaterally or by mutual agreement, measures to reduce trade barriers for third countries, including those with which that party intends to adopt a customs union, a free trade area, a border trade regime or those to which that party intends to unilaterally grant trade concessions, it notifies in advance, if possible, the other party in writing to the other party. On 1 January 1995, all products manufactured in Israel that were eligible for reduced tariffs under the agreement were exempt from tariffs. [1] [4] v. review of the results of this agreement, the experience gained in its work and the objectives set out in it, as well as the consideration of ways to improve trade relations between the parties, including possible improvements in this agreement. The adoption of amendments is subject to the national legislation of both parties; 1.