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CME applauds completion of Canada-Israel negotiations on new, expanded trade deal

Published by Brad Fougere on July 21, 2015

Canadian Manufacturers & Exporters (CME) applauds the announcement that negotiations on a new, expanded free trade agreement with Israel have completed.

“Israel is a key partner for Canadian technology companies, so an updated agreement that modernizes our long-standing free trade agreement is important,” said CME President and CEO Jayson Myers. “The expansion of the current CIFTA to cover non-tariff barriers, investment, intellectual, property and electronic commerce is welcomed by Canadian exporters.

According to a government release, since CIFTA came into force in 1997, Canada’s two-way merchandise trade with Israel has tripled to $1.6 billion in 2014.

“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,” Prime Minister Stephen Harper said in the release.

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