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An important aspect of Ukraine-Israel relations -- the history of the creation of a free trade zone between the two states is revealed in the article. Based on materials from current archives and open source data, the dynamic work process of preparation for signing the corresponding interstate agreement, its ratification by the parliaments of the countries is shown. It was found that it is a voluminous and labor-intensive process that requires consideration of the interests of the national economies of the two states; the creation of a free trade area has been the subject of many bilateral negotiations. Even the ratification of the agreement by the parliaments of the states for some objective reasons did not become a quick process. The national interests of the parties are taken into account in the relevant interstate document. Economic connections have always been an important and promising component of Ukrainian-Israeli relations. However, the parties have repeatedly pointed to the unsatisfactory level of economic relations. The interstate agreement on the establishment of a free trade zone between Ukraine and the State of Israel has its pros and cons, but in general we can talk about a significant improvement in many indicators that it can potentially bring. Although the process of creating a free trade area is incomplete, its study all the same is important in view of the importance of creating such a zone for both foreign economic relations of Ukraine and Israel and for development of friendly bilateral relations between them in general. While the agreement is not implemented, we have to be satisfied with the positive dynamics of economic relations, which is reflected in statistical indicators. They testify that the State of Israel is a very important trade partner of Ukraine in the Middle East. The Free trade area should bring beneficial results to Ukraine and Israel. [ABSTRACT FROM AUTHOR]