NEW YORK (Aug. 24)
As a result of its withdrawal from the Palestine Purchasing Service, the Palestine Economic Corporation has organized a new subsidiary company to export goods to Israel and to serve as purchasing agent in the United States for Israel principals, it was announced today. The new firm, called the Israel Commercial Corporation, will have a branch office in Tel Aviv.
The company, according to the announcement, intends to serve all sectors of industry and supply in Israel. Also planned is a department for sale and shipment of gift appliances to Israel residents.