Asked by: Craig Tracey (Conservative - North Warwickshire)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what progress she has made on negotiations with Israel on an agreement for further trade cooperation beyond the trade continuity deal; and what steps she is taking to strengthen the UK’s trade relationship with Israel in the science and technology sector.
Answered by Ranil Jayawardena
The United Kingdom’s trade relationship with Israel is already strong, totalling £4.9 billion in the four quarters to the end of Q3 2020. The United Kingdom-Israel Trade and Partnership Agreement entered into force on 1st January 2021. As the Foreign Secretary noted, the United Kingdom is now able to start scoping for greater ambition in our trade relationship with Israel. Science and innovation are key elements of this relationship and we are currently building a framework for a new Britain-Israel Science Partnership. Moreover, the ‘TechHub’, based in British Embassy Tel Aviv, continues to partner Israeli expertise with British companies, delivering significant benefits to the British economy.
Asked by: Craig Tracey (Conservative - North Warwickshire)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, pursuant to the Answer of 8 February 2021 to Question 146961 on Question for Department for International Trade, what sectors have been identified for further cooperation with Israel beyond the continuity trade agreement.
Answered by Graham Stuart
The United Kingdom-Israel Trade and Partnership Agreement entered into force on the 1 January 2021. The agreement provides an ambitious framework to continue to grow our future trading relationship, which totalled £4.9 billion in the four quarters to the end of Q3 2020. We have identified opportunities to deepen our bilateral trade relationship in sectors such as financial services, infrastructure, and technology. We will work with our Israeli counterparts to realise these including through reinstating plans to host a UK-Israel Trade and Investment conference in London.
Asked by: Craig Tracey (Conservative - North Warwickshire)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent steps the Government has taken to support bilateral trade with Israel.
Answered by Ranil Jayawardena
The United Kingdom-Israel Trade and Partnership Agreement entered into force on the 1st January 2021. The agreement provides an ambitious framework to continue to grow our future trading relationship, which totalled £4.9 billion in the four quarters to the end of Q3 2020. We are now working with Israeli counterparts on the implementation of our agreement and to scope where there is a shared ambition to deepen our bilateral trade relationship. This includes the opportunity to reinstate plans to host a United Kingdom-Israel Trade and Investment Conference.