Israel A Developed Economy - 812 Words

My objective in my research/analysis was to study some form of successful US foreign policy that acted as a substitute to foreign aid or benefited a developing/developed economy. The end of my research resulted in the policy recommendation that the United States should negotiate and enter into bilateral free trade agreements with Egypt and Pakistan under the parameters of lower tariffs/duties for imports, and complete transparency regarding trade policy. At the same time reduce and eventually eliminate the economic aid supplied to these two countries during a 5-year schedule after the enactment of the free trade agreement. The specific reductions would be aimed toward aid for economic growth, which totaled $45million in Egypt in 2016,†¦show more content†¦Before this specific free trade agreement was enacted, Israel benefitted from the Generalized System of Preferences (GSP) which is a unilateral trade preference program that allows goods from developing countries to ente r the U.S. duty free. Furthermore, Israel was a recipient of U.S. economic aid until the FTA, which resulted in the mutual liberalization of bilateral trade and the subsequent removal of the U.S. economic aid to Israel. The focus of the agreement was to continue to serve as the foundation for expanding trade and investment between the United States and Israel by reducing barriers and promoting regulatory transparency. The structure of those in charge of oversight for the FTA is the United States-Israel Bilateral Joint Committee. This group is tasked with providing structure for discussing the enhancement of trade and issues of mutual concern and is headed by the United States Trade Representative and the Foreign Trade Administration of Israel’s Ministry of Industry, Trade, and Labor. This group meets annually and operates on a broad mandate that has allowed trade to be further liberalized in agricultural products and establish cooperation on standardization. A meeting of the group in December of 2009 demonstrates the committee’s method of operation as they met to exchange views on issues and concerns related to agricultural market access andShow MoreRelatedIsrael s International Affairs : A Major Issue Of Social Inequality1149 Words   |  5 Pagesinternational affairs, ranging from relations with the United States, persistent conflicts with Palestine, and back and forths with Ir an, Israel has a major issue of social inequality within their nation. 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