A key part of the landmark U.N. Trade Agreement between Israel and America will be signed in the coming days by American and Israeli Trade Ministers.
This is a major milestone in the evolution of a relationship that has seen both sides work tirelessly to promote the trade deal and develop new bilateral trade arrangements that have been a major part of this process.
The deal will establish a free trade zone in the southern Israeli coastal region, known as the Sea of Galilee, and establish a new free trade agreement in the Israeli coastal Negev desert.
The two sides will sign a new agreement on Wednesday.
The United States is expected to sign a free-trade agreement with Israel that will include free trade in all sectors, including agriculture and services.
A number of provisions that have made this agreement important to both sides will be included in the agreement, including a requirement that foreign companies that operate within Israel must abide by Israel’s own rules on working conditions, including labor and environmental standards.
The deal is expected be signed by American Trade Secretary Ron Kirk on Wednesday at the White House.
The new agreement will also include a requirement for Israeli companies that enter into Israeli markets to provide their workers with “living wages.”
The two sides are expected to begin negotiating on the free trade agreements, known informally as the Trans-Pacific Partnership (TPP), later this year.