Vaughan Gething MS, Minister for Economy
On 20 July 2022 the UK government announced its intention to launch trade negotiations with the State of Israel.
These negotiations will build upon the existing UK-Israel trade and partnership agreement (TPA), a continuity agreement that came into force on 1 January 2021. The TPA brings together three main existing agreements the UK was part of while a member of the European Union.
In 2021, goods trade between Wales and Israel reached nearly £90m, of which imports and exports were worth around £22.2m and £65.6m respectively.
We will engage with a wide range of stakeholders to understand the impacts of this trade deal on sectors in Wales. Once concluded, the free trade agreement will be considered through the lens of the Well-Being of Future Generations Act 2015.
The Welsh Government recognises the sensitive political climate within which these talks will be undertaken.
This statement is being issued during recess in order to keep members informed. Should members wish me to make a further statement or to answer questions on this when the Senedd returns I would be happy to do so.