World Trade Organization Secretariat reports that the recovery of Israel's economy from the early 2000's recession has been mostly led by exports, in particular by innovation and a shift to high-technology goods and services.
The report notes the high level of protection still in place for agriculture.
It stresses that continued structural and trade reforms, including further privatizations, MFN tariff reductions (on agricultural goods in particular) and reduction in the gap between bound and applied tariff rates, would enhance predictability and transparency of the trade regime; further reforms of import duties would enhance adherence by Israel to its WTO commitments.
The report also highlights Israel's unilateral lifting of its general prohibition on imports from WTO Members that have no diplomatic relations with it or prohibit imports from Israel, a move that the authorities hope will be appreciated and reciprocated.
The WTO builds up ground-rules for international commerce, mediates trade disputes.
marketing@alchempro.com
