Faisal Ghaffar 
As Britain seeks financially rewarding post-Brexit deals, the UK government is looking forward to developing its trade relations with leading technology hub Israel.
The agreement, announced by Anne Marie Trevelyan who is secretary of International Trade said that this agreement would strengthen the business relationship that is already worth £5 billion. Increasing the relationship between the tech industries of the two nations, in specific, is a focus of the future agreement.
The International department of Trade is holding out hope for an overhauled relationship with one of the world’s largest tech hubs that will benefit UK tech firms. For years, Israel has worked a lot and been one of the most prominent figures in technology, with much more than 90 technology companies established in the Middle Eastern region. Trading platform eToro and GPS service Waze are two of Israel’s most well-known tech companies.
While the UK already has a trade agreement with Israel, it was signed before the country gained its boom in technology. Since this is the era of technology and this industry is growing at a fast pace than ever, it has become a necessity for every nation to bring revolution and meet new demands of the tech industry. With the growing demand for digital products and services, the government decided it was time to refresh the relationship.
Trevelyan explained that the United Kingdom and Israel both seem to be modern; possessing hi-tech services and the most influential superpowers in the world, but our existing trading relationship is centered on a 1995 agreement.
It was before the times when smartphones, digitally delivered services, and the internet changed the economy of nations worldwide. We are going to make a deal that capitalizes on British strengths while encouraging innovation and expanding opportunities for small along with medium-sized businesses from across the UK.
Part of the proposed agreement would involve increasing the export of UK services such as IT, insurance of information technology, and other online databases.
Tzipi Hotovely, Israel’s ambassador to Great Britain is scheduled to meet with ministers in London to discuss a new agreement.
Managing Director Daniel Moczuski of Israel’s decacorn eToro replied by saying that we greet the unveiling of UK-Israel trade negotiations to grow and expand opportunities for entrepreneurs in both the United Kingdom and Israel.
The UK business has increased significantly in importance to eToro’s business, and we are fortunate to have a very good squad in London going to serve a substantial percentage of UK individual investors.
