WASHINGTON (Jun. 13)
President Reagan this week signed the United States-Israel Free Trade Area implementation Act of 1985. The act liberalizes trade between the U.S. and Israel and is widely seen as a boon to the ailing Israeli economy, virtually opening the door to Israeli products to be freely marketed in the U.S.
In a statement released by the White House, Reagan said, “First, the establishment of the U.S.-Israel Free Trade Area will stand as a model of the close cooperation between the Administration and the Congress that can bring about a result benefitting all Americans.”
The President went on to say that, “the new Free Trade Area between the United States and Israel represents an important milestone in this Administration’s efforts to liberalize trade … I believe this new economic relationship with our friends in Israel will further our historic friendship, strengthen both of our economies, and provide for new opportunities between our peoples for communications and commerce.”