Israeli trade zone approved
NZPA-Reuter Washington The United States House of Representatives voted yesterday to establish a two-way free trade zone with Israel, the first between the United States and another country. The bill enacts an agreement reached last year between the President, Mr Ronald Reagan, and the former Israeli Prime Minister, Yitzhak Shamir, to end
tariffs and trade barriers between the two countries. The House trade sub-com-mittee’s chairman, Sam Gibbons, said that the House ■ had no objections to similar favourable trade pacts with Arab countries. The Senate approved the free trade zone last month but the House plans to incorporate it in a general trade bill that could face difficulty gaining final passage.
The Reagan Administration sought the free-trade zone to help Israel’s economy and to meet increasing competition from European goods exported to Israel under similar duty-free arrangements. Although most Israeli products enter the United States duty-free under other preferential trade arrangements, about 40 per cent of United States goods face duties in Israel.
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Press, 5 October 1984, Page 6
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166Israeli trade zone approved Press, 5 October 1984, Page 6
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