Conclusions of the 11th Israel-Russia Mixed Economic Committee

Both sides expressed satisfaction at the scope of trade between Israel and Russia, which in 2013 exceeded $3 billion, with the most significant rise in the area of aviation and tourism. It was agreed that the agreement on establishing a free trade zone between the two countries will be completed in 2014.

On Monday, December 9, 2013, the Israel-Russia Mixed Economic Committee convened in Moscow, with the Israeli delegation headed by Foreign Minister Avigdor Liberman and the Russian delegation by Deputy Prime Minister Arkady Dvorkovich. This was the Committee’s 11th meeting. Deputy Foreign Minister Zeev Elkin also participated in the talks.

At the end of the deliberations, both sides expressed satisfaction at the scope of trade between Israel and Russia, which in 2013 exceeded $3 billion, with the most significant rise in the area of aviation and tourism in which there was a 17% increase in the number of tourists from Russia to Israel and 13% from Israel to Russia. In addition, there was a 30% increase in the shipment of cargo (goods) from Israel to Russia and an increase of 12% from Russia to Israel.

It was also decided to open a credit line between ASHRA, The Israel Export Insurance Corporation Ltd. and its Russian counterpart. An agreement was signed between the Israeli LR Group Ltd. which operates in eastern Europe and the Chechnyan government for a large-scale dairy farm project, and a framework agreement for cooperation in the field of energy. It was agreed that the agreement on establishing a free trade zone between the two countries will be completed in 2014, as well as the social security (pension) agreement.

The Economic Committee headed by the Foreign Minister constitutes the highest-level inter-ministerial forum for relations between Russia and Israel. In the past four years, the Economic Committee has met annually, alternating between Jerusalem and Moscow.

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