World News | Israel Adopting European Standards for Importation of Electrical Products
Get latest articles and stories on World at LatestLY. On Sunday, March 31, 2024, the government approved the proposal of the Minister of Energy and Infrastructure, Eli Cohen, to fully open the electrical products market, which is estimated at 10 billion Shekels (USD 2.75 billion) per year, so that all products that comply with European regulations will enter Israel without exceptions.
Tel Aviv [Israel], April 2 (ANI/TPS): Israel's Ministry of Energy reported that soon electrical products from Europe will cost less and enter Israel with "zero bureaucracy."
On Sunday, March 31, 2024, the government approved the proposal of the Minister of Energy and Infrastructure, Eli Cohen, to fully open the electrical products market, which is estimated at 10 billion Shekels (USD 2.75 billion) per year, so that all products that comply with European regulations will enter Israel without exceptions.
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This, the ministry explained, is in order to expand the concessions for importing electrical products to Israel, fight the cost of living, increase competition in the field and cut regulation. Upon completion of the legislative process in the coming months, the reform will enter into force.
The reform deals with electrical products found in every home in Israel, including refrigerators, washing machines, televisions, dishwashers, clothes dryers and more.
The move is being made as part of Israel's efforts to lower the cost of living in the country by increasing competition in imports of various products. To do so, Israel has been adopting the European standards for regulations on various products which are less stringent than those that have been in effect in Israel, thereby increasing the variety of items available for import.
Minister of Energy and Infrastructure, Eli Cohen, "The completion of the reform in the import of electrical products is another step in reducing the cost of living for the Israeli public. Easier and cheaper imports of electrical products that are found in every home in Israel increases competition and makes it possible to enjoy a wide variety of products at attractive prices. In addition, the electrical products that to Israel will be more energy efficient, which will lead to savings in the electricity expenses of Israeli households." (ANI/TPS)
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