Austria and Israel have just completed a trade pact which permits the Jewish state to pay for the largest part of its purchases here with the blocked funds of Jewish emigrants, thus permitting the transfer of frozen assets to Israel, it was announced here today.
The agreement, which was six months in the making, provides that Israel will pay for some Austrian goods in dollars, in Israel exports and, mainly, through the liquidation of the blocked accounts. Israel is interested chiefly in Austrian machinery, chemicals and timber. Israel officials here have expressed satisfaction with the agreement and expect and intensification of its barter provisions.
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