Tel Aviv [Israel], Israel's Ministerial Committee to Combat the Cost of Living unanimously approved that European standards for the import of goods will automatically apply and supersede any current Israeli regulations.

This step is being taken to reduce the cost of many consumer goods like electronic devices. There will be discounts on dozens of consumer products like diapers, washing powder, dishwashing liquid, computers, mobile phones and other everyday consumer products.

Prime Minister Benjamin Netanyahu: "The government is uniting to eliminate the bureaucracy that costs citizens money and burdens the pockets of Israel's citizens."

"These are layers upon layers of bureaucracy over years that we now want to fix. In this process we will move to allow the import of baby products, electrical products and other products, which can also be installed in the State of Israel of course." "Competition will drive down prices in many other areas," he said.

Economy Minister Nir Barkat said his government was opening Israel "to thousands of cheap products from Europe, without any barriers, without unnecessary standards and without the control of monopolies and cartels."