The Israel–United Kingdom free trade agreement (IUKFTA) is a proposed free trade agreement which began negotiations on 20 July 2022.[1] The trade agreement would be the third FTA to cover Israel–UK trade, and superseding the Israel–UK Trade Continuity Agreement, extending the deal to cover services and digital trade.[2] Trade value between Israel and the United Kingdom was worth £6,881 million in 2022.[3]
The UK and Israel concluded the fourth round of negotiations on 29 February 2024.[10]
The fifth round of negotiations highlighted that trade in services comprise around 80% of both the UK and Israel’s economies, yet services only make up just over one third of total trade between the two countries; officials blamed this on the current Israel–UK Trade Continuity agreement which only covers trade in goods. The trading relationship between the UK and Israel was valued at £6.4 billion, as of September 2023.[11] A spokesperson for Prime MinisterRishi Sunak rejected the notion that the threatened invasion of Rafah would affect negotiations on the UK–Israel Free Trade Agreement.[12]
^Lord Johnson of Lainston (8 June 2023). "Trade Negotiations Update". UK Parliament. Archived from the original on 11 April 2024. Retrieved 11 April 2024.
