On July 11, 2019, the Verkhovna Rada of Ukraine ratified the international agreement on free-trade zone between Ukraine and Israel.

The agreement was signed in January. Negotiations between the countries lasted more than 5 years.

The agreement implies essentially complete abolition of import duties on industrial goods, with the exception of jewelry. At the same time, the majority of duties on these goods (about 80% from Israel and 70% from Ukraine) should be abolished immediately after the agreement enters into force.

After the completion of the transitional periods (from 3 to 7 years), a zero duty will be set on about 60% of agro-industrial products from Israel and 34% from Ukraine.

In 2018, the trade turnover between Ukraine and Israel amounted to $761 million. At the same time, exports from Ukraine amounted to 580 million US dollars or 1.2% of the total export of the country.