"The Free Trade Agreement (FTA) between the Republic of Turkey and the State of Israel" was signed on the 14 March 1996 in Jerusalem and entered into force on 1 May 1997.

In addition to eliminating tariffs and non-tariff barriers, the FTA also regulates numerous areas such as the sanitary and phytosanitary measures, internal taxation, balance of payments, public procurement, state aids, intellectual property rights, anti-dumping, safeguard measures and rules of origin.

Concerning the industrial products, all customs duties and charges having equivalent effect have been abolished as of 1 January 2000.

For the agricultural products (Protocol A, Annex I to Protocol A and Annex II to Protocol A), Turkey and Israel granted each other unlimited tariff elimination or reduction and/or tariff reduction or elimination in the form of tariff quotas for some agricultural products originating in the other Party. Furthermore, in 2006 and in 2007 both Parties revised the list of agricultural products that are covered by the FTA.

The products that will benefit from the preferential tariffs should fulfill the rules of origin set out in Protocol B of the Agreement.