Israel has entered into various trade agreements to strengthen its hold on the international market. Some of the most significant agreements include the Free Trade Area Agreement, EU, the USA and the EFTA countries. This agreement places Israel in a good position to participate in the free trade partnership with the principal economies in the world. Israel also acts as an intermediary for those countries without mutual agreements by providing them with a product that complies with the various agreements (Zanotti, 2014). The Israel-European Union Free Trade AgreementIsrael entered into this agreement in 1995 where a free trade zone was established with the EU for industrial products and some agricultural products. In these agreements, a majority of Israel’s products are exempted from various import duties. Israel, on the other hand, reduces its import duties on the EU countries products.Israel-USA Free Trade AgreementIsrael and the United States entered into an agreement in 1985, where the agreement eliminates all import duties between Israel and the US. The agreement also eliminates some non-tariff barrier on some agricultural products.Israel-EFTA Free Trade Area AgreementThis agreement became effective as of January 1983. In the agreement, Israel and the EFTA countries intended to eliminate some duties on the industrial good while reducing some non-trade barriers.Israel-Canada Free Trade AgreementThis agreement between Canada and Israel was enacted in July of 1996. The agreement eliminates duties on industrial good traded between the two nations.International Proprietor rightsIsrael is a member of some international treaties regarding intellectual rights on the property. PatentsIsrael adheres to the Patent Act, 1967 that regulates the protection of patents. Patents are issued either on the invention of a product or an innovative process, which has never been used previously.TrademarksThe trademark protection under the Trademark Ordinance, 1972 regulates the granting, renewal and termination of trademarks.
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