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February 18, 2019 4:52 pm

UK and Israel Sign Post-Brexit Free Trade Deal

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British Secretary of State for International Trade Liam Fox arrives at Downing Street in London, Jan. 22, 2019. Photo: Reuters / Toby Melville.

The United Kingdom and Israel finalized a post-Brexit free trade agreement on Monday.

British Secretary of State for International Trade Liam Fox flew to Israel for the signing of the deal, which was first announced last month.

After the signing, Fox spoke with Israeli Prime Minister Benjamin Netanyahu by telephone.

Netanyahu “congratulated Secretary Fox on the signing of the trade agreement and said that Israel views it with great importance,” a Prime Minister’s Office statement said. “The prime minister added that Great Britain is an important friend of Israel and noted that the agreement reflects that. He said that it was good for both parties.”

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“Prime Minister Netanyahu emphasized the importance of increasing pressure on Iran and cooperating with the sanctions imposed by the US with the goal of bringing about a change in Iran’s aggression,” the statement added.

UK-Israel trade totaled more than $10 billion in value last year.

The UK is set to withdraw from the EU on March 29. The British political scene is currently in turmoil following Prime Minister Theresa May’s failed effort to get parliamentary approval for a negotiated deal with the EU on the terms of the departure.

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