The authorities of Israel and South Korea have made substantial progress in several years the negotiations on the free trade agreement.
According to The Marker, the agreement, which will allow you to undo 99% of customs duties on trade between the two countries must be signed before the end of this year.
In particular, the agreement should lead to lower prices for cars and electronics. According to experts, it will allow for 20 years to double the volume of trade between countries.
Recall that before the end of the year must be signed and the free trade agreement with Ukraine.
As at the moment, Israel has free trade agreements with 44 countries — 28 EU States, the EFTA countries (Iceland, Norway, Switzerland, Liechtenstein), Turkey, Jordan, Egypt, Mexico, Canada, the USA, the MERCOSUR block (Argentina, Brazil, Uruguay, Paraguay), Colombia, and Panama.
There are also talks on free trade with the EEU (Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia), China, India, Chile, Vietnam. In December 2015, began checking the feasibility of a free trade agreement between Israel and Australia.