FOR IMMEDIATE RELEASE
OTTAWA, ON — Today, Bill C-85, which renews and modernizes the Canada-Israel Free Trade Agreement (CIFTA), became law after receiving royal assent.
In response, Joel Reitman, Co-Chair of the CIJA Board of Directors, issued the following:
“Canada and Israel have been friends and allies since the re-establishment of the modern state of Israel. The ratification of the modernized Canada-Israel Free Trade Agreement is another exciting milestone in the unique relationship between the two liberal democracies. This agreement is the result of work started by the previous government and continued by the current government, demonstrating that the Canada-Israel friendship transcends political party lines.”
Jeffrey Rosenthal, Co-Chair of the CIJA Board of Directors, added:
“The renewal and expansion of the free trade agreement opens doors to new opportunities in the innovation, science, and technology sectors for Canadians and Israelis alike. With bilateral trade between Canada and Israel passing the $1.7 billion mark in 2017, the new accord will boost both countries’ competitive edge in the global market, create new jobs, and enhance the quality of life for Canadians and Israelis. We are pleased with the modernized CIFTA and we congratulate all who worked diligently to secure its ratification.”
Additional Background
- 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.
- Modernized Canada-Israel Free Trade Agreement
- Modernized Canada-Israel Free Trade Agreement: Benefits for Canada
- Canada-Israel Free Trade Agreement: Backgrounder
The Centre for Israel and Jewish Affairs (CIJA) is the advocacy agent of the Jewish Federations of Canada-UIA.
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