Nathan Straus of New York, chairman of the American Chamber of Commerce, predicted today that the flow of private investments from the United States to Israel would rise to $50, 000, 000 annually by 1963 compared with the present annual rate of $15, 000, 000.
Mr. Straus made his prediction at the opening session of the second International Conference of Bi-National Chambers of Commerce. Pinhas Saphir, Minister of Trade, told the delegates that a few years ago Israel had few exports to offer and the local market was starved for imported goods. Now, he said, “we are in a position to give preference to countries interested in buying our products. “
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
