Finance Minister Avigdor Lieberman and Agriculture Minister Oded Forer announced that they have reached an agreement with the Cattle Breeders’ Association to eliminate duties in exchange for significant investment in the industry.

Duties will be abolished both on the import of beef and on the import of animals for slaughter in Israel.

In return, the state will invest 420 million shekels in the industry over seven years, including 54 million shekels of subsidies to farmers per year.

In addition, the government promises to increase the quota for foreign workers in the industry.

Since this is a pre-election period, the treaty will need to be approved by the government’s legal adviser in order for it to come into force.