Israel, Mexico Sign Free Trade Agreement

Israel and Mexico signed a free trade agreement that will abolish protective tariffs between the two countries by 2005. The accord, signed in Jerusalem in the presence of Israeli President Ezer Weizman and Mexican President Ernesto Zedillo, should increase bilateral trade by tens of millions of dollars, Israel said. In 1999, Israel’s exports to Mexico totaled $130 million, and Mexico’s exports to Israel totaled $38 million. Israel’s exports include medical equipment, pharmaceuticals and agricultural supplies. The main Mexican export to Israel is oil.