The agreement is expected to soon bring bilateral trade to $3 billion, the ministry said, after bilateral trade between the countries rose 18% last year to $2.2 billion.
Meanwhile, Israel's cabinet plans to further change Israel's import system to resemble the European method of regulations and standards.
The Melnick State Index reveals stagnation in Israeli business sector growth and signals economic concerns for the future.
Until now, most tax treaties are bilateral and not multilateral. MoMA doesn’t actually prescribe anything new, but it presents current “best” practice for resolving multilateral tax disputes
Israel's economy grew significantly last year as many branches of the economy continue to recover after the COVID-19 crisis.
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