The Minister of International Trade and Israel’s Minister of the Economy and Industry recently announced the signing of the modernized Canada-Israel Free Trade Agreement (CIFTA).
Canada and Israel have modernized the original CIFTA to include progressive elements, such as dedicated chapters on labour, the environment, trade and gender, and small and medium-sized enterprises (SMEs), as well as provisions on corporate social responsibility. New provisions will also help to make the dispute-settlement mechanism more efficient, effective and transparent.
As part of the modernized CIFTA, updates were made to four existing chapters:
- dispute settlement
- institutional provisions
- market access for goods
- rules of origin
Seven new chapters were added that deal with new and ongoing trade elements and issues:
- e-commerce
- intellectual property
- labour
- sanitary and phytosanitary measures
- technical barriers to trade
- the environment
- trade facilitation
The modernized CIFTA also includes further tariff reductions and eliminations for agricultural and agri-food products, which will provide improved access for Canadian exporters to the Israeli market. The benefits of the CIFTA modernization will take effect on the date that CIFTA enters into force which may occur in 2019.
View the Canada-Israel Free Trade Agreement FAQ’s on the modernization.
More information:
Global Affairs on the Canada-Israel Free Trade Agreement (CIFTA).
Text of the modernized CIFTA.