The UK and Israel have signed an agreement that simplifies trade and allows businesses to trade “as freely as they do now” after Britain leaves the EU.

Ministers from both countries signed the continuity agreement this week to ensure that businesses will trade “without any additional barriers or tariffs” after the end of March.

International Trade Secretary Liam Fox, who made trade with Israel a priority after the Brexit referendum, shook hands with his counterpart Eli Cohen on Monday, in news welcomed by the Israel Britain Chamber of Commerce (IBCC).

“Britain’s relationship with Israel is stronger than it has ever been with record levels of bilateral cooperation in trade and investment between our two nations,” said Fox.

“Today’s agreement will further help ensure UK and Israeli businesses, exporters and consumers have the certainty they need to continue trading freely and in confidence as the UK prepares to leave the EU.”

“We look forward to further strengthening an ambitious trade and investment relationship with Israel as we work closer together in the future.”

IBCC president Anita Leviant said: “Technology, science and innovation cooperation between companies and organisations of both countries keeps growing each year and the sky is the limit. Ensuring continuity for our important mutual businesses is therefore a must.”

See also:What does Brexit mean for UK-Israel relations?’