Israel to ease import regulations for US goods

By Steven Scheer

JERUSALEM, March 13 (Reuters) - Israel on Thursday further softened regulations on imports to make it easier for goods from the United States to enter the country, aiming partly to lower the cost of living.

Until last year, all goods entering Israeli seaports needed to be checked by local officials but under a plan originally launched in 2021, Israel started adopting international standards under which a product that complies with European regulation and is marketed in Europe can be sold in Israel.

Economy Minister Nir Barkat said that programme was raising the bar to include the United States.

"What is good for the U.S. is certainly good for the Israeli consumer," he said. "Expanding imports from the U.S. will encourage competition, introduce new players into the market, and lower prices for the Israeli consumer."

His ministry would continue to act vigilantly to ease the process for importers and benefit consumers, he said.

"Products meeting relevant American regulations applicable to Israel will be able to enter the Israeli market more efficiently, without unnecessary regulations and tests, while maintaining health standards, public safety, and environmental protection," the ministry said.

It noted that the U.S. is Israel's largest export market and the potential of boosting imports from there is still vast and opens Israel to a wider range of products.

The ministry said its standards teams will soon begin work on adopting relevant U.S. standards.

Israel's inflation rate stands at 3.8% but the cost of living has jumped significantly, partly owed to Israel's war with Palestinian militant group Hamas that has hurt the supply chain.