Ehud Olmert, the Minister of Industry, Trade and Labor, and Ukraine Economy Minister Arseniy Yatseniuk on Sunday signed a declaration of intent to strengthen trade relations between the two countries.
Under the agreement, the two countries also will consider entering negotiations for a free trade agreement. Olmert and Yatseniuk signed the pact as part of a two-day visit to Israel by a delegation that included almost 50 Ukrainian deputy ministers, government officials, industry leaders and the heads of economic organizations. The visit was organized by the Center for Israel-Ukraine Co-operation. Three other agreements were also signed including one between Ahsra, an Israeli company that insures foreign-trade risk, and the Export-Import Bank of Ukraine.