TEL AVIV (Sep. 22)
A joint Israeli-Japanese fishing company has been established at Elath to operate in waters off the Union of South Africa, Jacob Merider, a member of the Knesset, announced here today.
The new company has already purchased its first fishing boat and will man it with a crew which will be half Japanese and half Israeli. The capital investment is also on a partnership arrangement. In addition, the new company will attempt to raise cultured pearls in the fashion they are currently being produced in Japan.