ARAB BLACK LIST 10,000 firms banned

Press, Volume CXV, Issue 33777, 25 February 1975, Page 17

ARAB BLACK LIST 10,000 firms banned

(N.Z.P. A.-Reuter—Copyright) CAIRO, February 24. An estimated 10.000 international companies are on a black list banning them from business in \rab countries because they deal with Israel. Arab Boycott Office sources said toda\.

During the current meeting of the office only 50 to 60 foreign companies were expected to be lifted from the black list after supplying documents saying that they had severed all relations with Israel. Seven companies were expected to be added to the list. Although Boycott Office sources said that an estimated 10.000 companies, big and small, were on the black list, they hoped this number could be drastically pruned. About 200 foreign companies have applied for the ban to be lifted. Most said that they intended to invest in development on the increasingly lucrative Arab market.

On the second day of its 10-day session, the Boycott Office, an Arab League body, was today considering new

measures to tighten it economic boycott of Israel. Delegates to the sessio were given five days to com up with new boycott pre posals.

The Boycott Office chairman, Mr Mohammed Mahgoub, opening the sessions yesterday, told delegates that after the 1973 war many big foreign companies expressed their desire to invest in Arab markets after severing all links with Israel.

The criterion for boycotting a foreign company from dealing in the Arab world is based lon whether it supports Israel’s economy or war efforts.

The company must sever links with Israel and pledge to invest as much in the Arab countries as it invested in Israel.