Paris Sees Economic Relations Between Israel and France Growing
Menu JTA Search

Paris Sees Economic Relations Between Israel and France Growing

Economic relations between France and Israel are first rate now, and continue to grow steadily, informed foreign-trade circles declared here today.

In the last two months, these circles pointed out, Israel has placed orders in this country for more than two-thirds of the $30, 000, 000 credit which France offered Israel after the Sinai campaign in 1956. More orders are being prepared now, and the total $30, 000, 000 credit is expected to be exhausted soon.

Five ships are to be built for Israel in French shipyards, at a total cost of $12, 000, 000, and Israel is also purchasing here $6, 000, 000 worth of railroad equipment. In addition, Israel is buying $2, 000, 000 worth of commercial planes and helicopters, a large quantity of prefabricated housing, and almost $3, 000, 000 worth of semi-finished chemicals and other chemical products.

So far, there has been no formal discussion about further French credits, beyond the 1956 $30, 000, 000 credit. However, trade between the two countries is growing steadily, and has now reached $11, 000, 000 annually–twice the total of Franco-Israel trade two years ago.

The foreign-trade sources revealed these figures in denying reports in the French press alleging that difficulties have developed in Franco-Israeli economic relations.