UK minister aims for deepened economic ties with Israel’s third-largest trading partner, behind the U.S. and China.
By World Israel News Staff
UK Secretary of State for International Trade Anne-Marie Trevelyan touched down in Israel Tuesday evening, visiting the Western Wall before three days of meetings aimed at strengthening economic ties and preparing a new trade agreement between her country and the Jewish State.
Trevelyan, who is also president of the UK’s Board of Trade, posted a photo of herself at the holy site on Twitter, writing in the caption that she’s “pleased to have arrived in Israel to begin FTA discussions. Honoured to have the chance to make short visit to the old city of #Jerusalem this evening.”
“Looking forward to meeting new friends to discuss how we deepen cooperation to forge an even stronger partnership,” she added. “Closer trade & investment ties will benefit businesses and consumers in both economies.”
Trevelyan will meet with her Israeli counterpart Orna Barbivai, as well as prominent Israeli business leaders and other government officials, in Jerusalem and Tel Aviv.
In a statement, Trevelyan said that because the UK officially left the European Union, the country is free to renegotiate terms of previous trade agreements made under restrictive EU conditions.
“Unlike in the past, we can now work with friends and allies like Israel to strike deals that are truly tailored to our strengths in areas like digital trade, services and life sciences,” she said.
“This new trade agreement is part of our commitment to build a stronger relationship with Israel, and is a huge opportunity to deepen ties with a fellow democracy and tech superpower, so we together we can create well-paid, high value jobs in both countries.
According to Ynet, the trade relationship between Israel and the UK is currently worth some $6.5 billion annually.
Israeli investment in the UK reached $290 million in 2021.
The UK is Israel’s third-largest trading partner, behind the U.S. and China.