Jerusalem, 4 July 2024 – Prime Minister Benjamin Netanyahu convened a meeting of the ministerial committee on fighting the cost of living at the Prime Minister’s Office. The committee, chaired by Netanyahu, was briefed on the progress of the ‘What is Good for Europe is Good for Israel’ legislation.
The committee recently approved the reform, which targets the food, cosmetics, and electrical products sectors, and is preparing for its second and third readings in the Knesset. The reform is expected to pass by the end of the current session.
In today’s meeting, the committee unanimously approved the proposal by Prime Minister Netanyahu, Economy Minister Nir Barkat, and Finance Minister Bezalel Smotrich, determining that the European standard will now automatically apply and take precedence over the existing Israeli standard.
The legislation will enable the import of numerous consumer products, including diapers, laundry detergent, dishwashing liquid, computers, household electrical appliances, kitchen products, cooking ovens, baby carriages and cribs, toys, washing machines and dryers, glass and ceramic utensils, cleansing creams, and lightbulbs. It will also eliminate existing restrictions on the use of these products in the construction and industrial sectors.
Prime Minister Netanyahu stated:
“This government has passed historic legislation, ensuring that what is good for Europe is good for Israel. By opening the market for food, cosmetics, and other items, we aim to reduce prices through increased competition. We are also cutting through layers of bureaucracy to facilitate the import of essential products for babies, electrical goods, and more. These changes will alleviate the financial burden on Israeli citizens.”
Netanyahu thanked the ministers for their efforts to unite the government and reduce bureaucratic costs, ultimately benefiting the pockets of Israeli citizens.–News Desk