(photo credit: Wikicommons)
Israel’s strong trade ties with Canada received a boost with the signing of two
separate agreements in Ottawa on Tuesday night.
The two countries signed
an agreement on customs cooperation, committing to share information on trade
and assist each other in the fight against smuggling.
They also upgraded
the existing Double Tax Avoidance Treaty.
The agreements were signed by
Miriam Ziv, Israel’s ambassador to Canada, and Vic Toews, Canadian Minister of
Public Safety. A number of Israeli representatives attended the signing,
including Tax Authority Director Doron Arbeli and Deputy Finance Minister
Arbeli said the agreement, together with the 1996 Free
Trade Agreement, would create a comfortable “platform” for Israeli firms to do
business in Canada, and vice-versa. He pointed out that Israel has 33 such
customs agreements, including one with the European Union.
trade between Israel and Canada rose 5 percent in 2011 to $1.25 billion. Israeli
exports to Canada stood at $803 million, around 64% of trade between the two