Israel Relaxes Restrictions on Imports, Purchase of Securities Abroad

The Government has relaxed restrictions on imports and on the purchase of securities abroad. An order published Sunday permits Israelis to purchase stocks listed on any recognized exchange abroad. Previously such purchases were restricted to a few approved exchanges in major world centers. Israeli participation in foreign trust funds and mutual funds will still require special approval.

An order published today permits Israelis to import electric record-player, cigarette lighters and patent-leather handbags, subject to the normal customs duties. Previously, the importation of these items was prohibited to protect competitive local products. Israel also announced an across-the-board reduction of 15 percent on all imported items on which more than 35 percent customs duties are collected. The reduction was in line with Israel’s compliance with the “Kennedy Round” of international tariff agreements.

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