JERUSALEM (Oct. 21)
Israel will be expected to reduce tariffs and make other concessions in return for preferential treatment from the European Common Market, Finance Minister Zeev Sharef said yesterday. Mr. Sharef addressed the Consultative Committee on the Protection of Locally Manufactured Goods. The Council of Ministers of the Market authorized negotiations for a preferential trade agreement with Israel last Friday.
Mr. Sharef said Israel would be asked to reduce its tariffs on all imports, abolish export subsidies, and do away with taxes that discriminate against imported goods.