Israel and Europe open up virtually free trade to one another. Known as the Association Agreement, the agreement includes stipulations about cooperation in scientific matters with the objective of facilitating technological transfer between Israel and the EC. Later in the 1980s, with the expansion of the EC to include Spain, Portugal, and Greece, while Israel is competing with these countries in agricultural products, there occurs a reduction in Israeli access to some markets. The signing of the agreement in May is particularly important for Israel because while its relations with the US are tense over Israel’s unwillingness to make dramatic withdrawals in Sinai, this agreement gains Israel a small political success, causing Secretary of State Kissinger to be miffed at European counterparts. A significantly major trade agreement is signed between Israel and the European community in November 1995.
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