Business and Trade Secretary Jonathan Reynolds has today announced that the government will embark on new trade talks with Israel.
Israel ranks among other key markets including the Gulf Cooperation Council, India, South Korea, Switzerland and Turkey with which the government will negotiate free trade agreements.
The trade talks are intended to deliver high-quality trade deals to give UK businesses access to international markets, boost jobs and deliver growth.
Trade between the UK and Israel amounted to £6.1 billion in 2023, of which more than half was made up of British exports to the Jewish state.
In 2023, the East Midlands (19.2%), South East (13.6%) and North West of England (9.8%) were the three UK regions most engaged in goods exports to Israel. Key exports included mechanical power generators, medicinal and pharmaceutical products, road vehicles and beverages and tobacco.
In 2024, London (18.6%), the East Midlands (17.7%) and South East of England (12.1%) were the three UK regions most engaged in importing goods from Israel. Key imports included telecommunications, computer and information services, transportation, and travel and government services.
In 2023, almost 10,000 British businesses were involved in exporting or importing goods with Israel.
