The government has greenlit a reform aimed at deregulating and standardizing products that adhere to European quality standards, following the mantra "What's good for Europe is good for Israel."

Championed by Finance Minister Bezalel Smotrich and Economy Minister Nir Barkat, the reform will streamline the importation process of goods from Europe to Israel, reducing red tape and bureaucracy. This move is expected to foster heightened competition and drive down prices.

The coalition plans to initiate the reform's first reading before the Knesset recess, which extends until April 8th. Subsequently, they aim to finalize it during the break and swiftly approve it in the second and third readings upon the parliament's return.

Under the reform, importers will be relieved from the requirement of obtaining prior import authorization for products meeting EU standards, excluding high-risk items.

Instead, importers must provide a declaration of conformity to the specified standard and a goods passport. Random checks at ports and markets will replace pre-import inspections.

It's important to note that the reform excludes oral hygiene products, as well as cosmetic and hygiene items for infants and pregnant women.