Jerusalem (May. 30)
A favorable trade agreement between Egypt and Palestine was signed in Cairo by William J. Johnson, treasurer of the Palestine government, it was announced here today.
In a statement to the press, Mr. Johnson expressed the hope that the Palestine trade balance with Egypt will now be considerably improved. He disclosed that the Egyption government has made substantial reductions in customs duties and freight charges for certain agricultural and industrial products of Palestine. He also stated that the Egyptian government has agreed to meet every year with representatives of the Palestine government in order to review the trade exchange of the two countries.
Industrial leaders in Palestine, including leaders in the citrus industry, today expressed dissatisfaction with the results of Mr. Johnson’s trip to Egypt.