In Ramallah, the UK-Palestinian Authority agreement was
signed by both the International Trade Secretary and
Her Excellency, Abeer Odeh, Minister of National
Economy.
The agreement simplifies trade and will allow
businesses to trade as freely as they do now once the
UK leaves the EU.
Trading on these preferential terms, rather than on
World Trade Organization terms, will continue to
deliver significant savings and help to further
strengthen the bilateral trading relationship.
The agreement allows Palestinian businesses to continue
access to the UK market tariff-free which will continue
to benefit Palestinian producers in priority sectors,
including exporters of fruit, nuts and vegetable fats
including dates and olive oil.
Today’s signing reflects the importance of bilateral
relations between the UK and the Palestinian Authority.
The Agreement demonstrates the UK’s commitment to
strengthening bilateral cooperation, promoting
Palestinian economic growth, and maintaining the UK’s
strong commitment to a two-state solution.
International Trade Secretary MP said:
Today’s agreement will help give UK and Palestinian
businesses, exporters and consumers the certainty
they need to continue trading freely as the UK
prepares to leave the EU.
The agreement reflects the importance of the
UK-Palestinian relationship, a thriving Palestinian
economy is in all our interests. We look forward to
further strengthening our trade and investment
relations with the Palestinian people.
The news has been welcomed by the Palestine British
Business Council.
Antoine Mattar, Chair of the Council, said;
The Palestine Britain Business Council welcomes the
trade agreement between the United Kingdom and the
Palestinian Authority.
This agreement avoids unnecessary tariffs which will
ultimately save British consumers money on items such
as dates and olive oil. Frictionless trade also helps
to keep people in employment and create new jobs,
supporting the Palestinian economy and helping
Palestinians work towards a prosperous future.
The UK is seeking to provide continuity for around 40
existing EU trade agreements covering more than 70
countries.
Like these agreements, the new UK-Palestinian Authority
agreement replicates the existing trading arrangements
as far as possible. It will come into effect as soon as
the implementation period ends in January 2021, or on
29 March 2019 if the UK leaves the EU without a deal.
