Jonathan Reynolds, the new UK Minister of Business and Commerce, has announced that the government will resume negotiations on free trade agreements with Israel and several other regions. The renewed talks will also cover the Cooperation Council of the Gulf States, India, South Korea, Switzerland, and Turkey.
Reynolds described this initiative as a vital step towards establishing high-quality trade deals essential for global market access, job growth, and economic expansion. "Increasing trade overseas is essential to deliver a strong economy at home. That is why I did not delay in reviewing the progress and prepared to continue the trade talks with our international partners,” Reynolds explained.
For Israel, this renewal presents an opportunity to reframe its trade relationship with the UK, which has largely centered on goods since the 1995 EU-era agreement. Israel may seek to expand the scope to include technology and services, aligning with its significant service sector.
The timing of this move coincides with a transitional phase for the UK under the Labour government led by Keir Starmer. Notably, this administration has already made headlines by reversing the Conservative government’s opposition to ICC arrest warrants for Israeli leaders, signaling a shift in the UK’s diplomatic approach.