The agreement on free trade area (FTA) between Ukraine and Israel will stimulate cooperation between Ukrainian and Israeli companies in various sectors, ex-Deputy Economic Development and Trade Minister, former Trade Representative of Ukraine Natalia Mykolska has said.

"The agreement will give a green light for cooperation between Ukrainian and Israeli enterprises in many areas: high-tech, engineering, processing equipment for the food industry, and other," she wrote on her Facebook page on Tuesday.

She also said that the Israeli market is quite closed and there are high import duties, in particular, for agricultural products.

"Therefore, the agreement opens up opportunities and competitive advantages for Ukrainian exporters, canceling 80% of import duties for industrial goods," Mykolska wrote.

As reported, on January 21, Ukraine and Israel signed the FTA agreement. The negotiations had lasted since 2015.