PM Harper welcomed the new treaty that replaces a 1997 agreement, saying, “Israel is a priority market for Canada and holds great potential for Canadian companies in a variety of sectors.”

By Shlomo Cesana

Prime Minister Benjamin Netanyahu spoke with Canadian Prime Minister Stephen Harper on Tuesday evening, following the conclusion of negotiations to expand and modernize the Canada-Israel Free Trade Agreement.

Prime Minister Benjamin Netanyahu and Canadian Prime Minister Stephen Harper [Archive] – Photo: Dudi Vaaknin

“Canada is one of Israel’s closest friends,” Netanyahu said. “We deeply appreciate our extensive and deep cooperation with the Canadian government, which has flourished in recent years and of which the free trade agreement is but one example.

“This expanded and modernized agreement will further energize the trade between our countries to the benefit of both our peoples.”

Since the original agreement came into effect in 1997, the two-way merchandise and trade between Canada and Israel tripled to $1.6 billion last year.

The updated agreement will ease the export and import as well as market access of fresh and processed produce and fish, among other goods, in both countries.

It is expected to be approved in both parliaments shortly.

Harper welcomed the agreement, saying, “Israel is a priority market for Canada and holds great potential for Canadian companies in a variety of sectors. An expanded and modernized free trade agreement will lead to a strengthened bilateral relationship as well as an increase in jobs and opportunities for Canadians and Israelis alike.”

Canadian Ambassador to Israel Vivian Bercovici also lauded the new agreement and its potential for both countries.

View original Israel Hayom publication at: http://www.israelhayom.com/site/newsletter_article.php?id=27071