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Israel is an advanced, market-oriented economy. However, its limited land and water resources preclude agricultural self-sufficiency, affecting local production costs and consumer prices.
The second stage of the front of pack labeling regulation is scheduled to enter into force on January 1, 2021.
On June 28, 2019, the European Union became the first major partner to strike a trade agreement with the Southern Common Market (or MERCOSUR) countries of Argentina, Brazil, Paraguay, and Uruguay.