Trading
UK begins pursuit of improved trade deal with Israel
Published by maria gbaf
Posted on February 3, 2022
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on February 3, 2022
2 min readLast updated: January 28, 2026
The UK is pursuing a better trade deal with Israel, focusing on digital trade and services, as part of its post-Brexit strategy.
LONDON (Reuters) – The United Kingdom will begin seeking an improved trade deal with Israel this week when trade minister Anne-Marie Trevelyan travels to meet her Israeli counterpart Orna Barbivai.
Britain is looking to build new trade ties around the world having left the European Union, targeting fast-growing economies with wealthy middle classes, betting there will be demand for its premium exports and professional services.
“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,” Trevelyan said.
When it left the EU, Britain signed deals to keep existing trade arrangements in place but is now revisiting those in search of better terms, including the agreement with Israel.
Britain’s Department for International Trade will also take the first step toward launching formal trade talks: an eight-week consultation seeking views from the public and business on the priorities for any deal.
Trevelyan is set to meet Barbivai and investors during a three day visit to Jerusalem, Tel Aviv and other areas.
In 2020 2.7 billion pounds ($3.64 billion) worth of British exports went into Israel, with an overall trade relationship valued at 4.8 billion pounds.
($1 = 0.7415 pounds)
(Reporting by Muvija M in London; editing by William James and Michael Holden)
The main topic is the UK's pursuit of an improved trade deal with Israel, focusing on digital trade and services.
The UK aims to establish better trade terms post-Brexit, targeting fast-growing economies like Israel.
In 2020, British exports to Israel were valued at 2.7 billion pounds, with an overall trade relationship worth 4.8 billion pounds.
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