FOR IMMEDIATE RELEASE
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Monday, May 28, 2018
MONTREAL, QC – Today, the modernized, expanded Canada-Israel Free Trade Agreement (CIFTA) was signed by the Honourable François-Phillipe Champagne, Minister of International Trade, and his Israeli counterpart, Mr. Eli Cohen, Minister of Economy.
In response, David J. Cape, Chair of the CIJA Board of Directors, issued the following:
“The signing of the modernized Canada-Israel Free Trade Agreement is yet another exciting landmark achievement for the already strong Canada-Israel relationship. Because of this updated agreement, both Canadians and Israelis will enjoy countless new opportunities in the innovation, science, and technology sectors, all based on the modern, knowledge-based economy.
“This agreement is the culmination of work started by the previous government and continued by the current government demonstrating once again how the Canada-Israel friendship transcends politics and is valued and supported by all parties over many years.
“With bilateral trade between Canada and Israel passing the $1.7 billion mark in 2017, the new Canada-Israel Free Trade Agreement will boost both Canada and Israel’s competitive edge in the global market, create new jobs, and enhance the quality of life of Canadians and Israelis alike. We are very pleased with the modernized agreement and we congratulate all those who have worked so hard to make it a reality. ”
The Centre for Israel and Jewish Affairs (CIJA) is the advocacy agent of the Jewish Federations of Canada-UIA.
- Canada and Israel first signed a trade agreement in 1997.
- Since 1997, trade between the two countries has more than tripled, and in 2017 was valued at $1.7 billion.
- A number of progressive elements have been added including chapters on labour, environment, gender and SMEs. This is a first for Israel in a free trade agreement.
- Modernized Canada-Israel Free Trade Agreement
- Modernized Canada-Israel Free Trade Agreement: Benefits for Canada
- Canada-Israel Free Trade Agreement: Backgrounder
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