Talks Begin on U.s.-israel Trade

In preparation for the joint United States-Israel Committee for Investment and Trade meeting, to be held here in Nov., three of the committee’s sub-groups opened three days of discussions today at the U.S. Treasury Building. These groups are concerned with capital investment, trade, and raw materials. A fourth sub-group on research and development will meet in Israel in the near future.

U.S. Treasury Secretary William Simon said “these meetings are an important step in our efforts to add a new dimension to the long-standing framework of economic relations between Israel and the United States. In addition to exploring ways of facilitating foreign private investment in Israel and moving to expand trade between Israel and the United States,” Simon added, “we will be examining means to help Israel meet its raw material needs.”

Simon and Israeli Finance Minister Yehoshua Rabinowitz are co-chairman of the joint group. Assistant Secretary of the Treasury, Gerald L. Parsky is the committee’s executive secretary. He is also ranking U.S. official in the current discussion.

The U.S. delegation consists of officials of the Departments of State, Treasury, Commerce and Agriculture, and also the White House office of the special representative for trade and negotiations. Parsky is also executive secretary of similar committees set up with Egypt and Saudi Arabia. Zev Sher, economic minister at the Israeli Embassy, and Moshe Mandelbaum, the director general of the Ministry of Trade and Commerce of Israel, head the 15-member Israeli delegation.

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