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Spain, Israel Sign Trade Agreement

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Spain and Israel have concluded an agreement which will further trade contacts between the two countries.

The agreement was signed by the heads of the Israeli and Spanish Chambers of Commerce at the end of the first official visit of Spanish business men to Israel since diplomatic relations were established earlier this year.

The trade delegation met with deputy Premier and Foreign Minister Yitzhak Shamir and discussed possible areas of cooperation such as tourism in which the Spanish are very experienced with some 43 million tourists visiting Spain each year as against 1.5 million who visit Israel.

Israel imported $80 million worth of goods from Spain last year. The imports included cars, food products and textiles. This is far greater than Israeli exports to Spain which consist mainly of diamonds and some agricultural products.

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