Brussels, 09/05/2000 (Agence Europe) - Now that ratification procedures have been completed and the EU Council has adopted its favourable decision, the Euro-Mediterranean association agreement between the EU and Israel will enter into force on 1 June.
The agreement was signed on 20 November 1995 and the European Parliament issued its assent in 1996, but ratification procedures by the national parliaments were particularly slow, especially in France and Belgium. Concluded for an unlimited period, the agreement comprises the following elements: a) permanent political dialogue; b) gradual establishment of a free-trade area in accordance with WTO provisions; c) provisions on freedom of establishment, the liberalisation of services, free movement of capital and competition rules; d) strengthening of economic cooperation on the broadest basis possible; e) social and cultural cooperation. The agreement will be administered by an Association Committee and will meet once a year at ministerial level.