Secretary of the Treasury William Simon pledged today that his government would support efforts to encourage American investments in Israel and Israeli exports to America. Simon spoke to newsmen at the Knesset following the signing of an agreement establishing an “Israel-U.S. Binational Industrial Research and Development Foundation.”
Simon and his party drove from the Knesset to Ben Gurion Airport where they left for Damascus and are due in Cairo tonight on the fourth leg of a Mideast tour that had started in Saudi Arabia. Simon said the Israeli government would set up a marketing organization in the U.S. to promote Israeli exports there, and that he would “make a personal effort to assist this project.”
The Secretary also pledged his personal aid in launching the “Israel-U.S. Business Council,” whose first meeting, in Washington March 17, he would address. The Council plans to send a high-level group of American business executives to Israel soon to survey at first hand investment opportunities here.
In a joint statement issued by Simon and his host, Finance Minister Yehoshua Rabinowitz, the Secretary also pledged U.S. government assistance “to Israeli industrialists visiting the U.S. to seek out ties with U.S. firms.” The U.S. government would also “continue to publicize investment opportunities offered in Israel,” the joint statement said.
CONSIDERING TWO POSSIBILITIES
Simon told newsmen–and there was reference to this too in the joint statement–that the U.S. was in principle favorable to encouraging defense-related companies in America to go into business with Israeli producers. Simon disclosed that he had discussed this with Defense Minister Shimon Peres during a meeting last night, but said the matter was highly classified and therefore refused to go into specifics.
According to reports here, two of the possibilities under consideration are: Israeli vegetables to feed U.S. soldiers in Europe, and Israeli servicing of U.S. warplanes stationed in Europe. Simon said that where Israel could produce weapons systems cheaper than in the U.S., it should be encouraged to do so. He appeared to indicate that the U.S. Defense Department would purchase such systems.
Asked about the Arab boycott, Simon reiterated that President Ford and his Administration were firmly against it. However, this U.S. position would not make the boycott disappear overnight, he said. “There are no instant solutions,” the Secretary added. “The ultimate answer is in the attainment of lasting peace.” He said U.S. efforts to spur Mideast economic prosperity were ultimately a major contribution to the attainment of full peace.
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.
