Overseas Trade: Israel

Department for International Trade written question – answered on 8th October 2019.

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Photo of Ian Austin Ian Austin Independent, Dudley North

To ask the Secretary of State for International Trade, what recent assessment has she made of the level of potential opportunities for (a) export and (b) trade with Israel.

Photo of Graham Stuart Graham Stuart Parliamentary Under-Secretary (Department for International Trade)

Israel remains a strategic priority for UK trade with total trade in goods and services between the UK and Israel totalling £4.2bn in 2019.

Total UK exports to Israel amounted to £2.4bn in 2019 and our Embassy team in Tel Aviv, supported by the Department for International Trade (DIT) team in London and across the UK, continues to support and engage with business on a daily basis both to assess and realise potential opportunities for UK business in line with the Export Strategy, the government’s plan to increase UK total exports as a proportion of GDP to 35% and make Britain a 21st century exporting superpower. The strategy, which focuses on all global markets, including Israel, will encourage and inspire more businesses to export; inform businesses by providing practical assistance on exporting; connect UK businesses to overseas buyers and opportunities; and help provide finance through UK Export Finance to enhance the HMG offer to UK exporters. Through this strategy we will also continue to promote the UK as a bilateral trading partner, reassuring Israeli businesses that the UK remains open for business and remains an advocate for free trade and open markets.

On trade more broadly, the Trade Continuity Agreement signed between the UK and Israel last February reflects the importance both countries attribute to the respective trading relationship and the potential opportunities that exist. I am delighted that the Hon. Member will be supporting the important and exciting work that builds on the agreement as our recently appointed Trade Envoy for Israel.

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