Britain’s declining trade with Israel will fall off more unless the United Kingdom extends long-term loans or credits to the Jewish Starter to help it offset its adverse balance, according to a memorandum submitted to the British and Israel Governments by the Anglo-Israel Chamber of Commerce.
The memorandum said “many sectors of British industry recognize the long-term value of meeting the continuing need of Israel for capital and semi-capital goods,” and expressed the opinion that an “increase in imports from Israel and the extension to her of credit facilities could result in the maintenance and development of Britain’s continuing and long-term interest in an expanding Israel market.”
The memorandum stated that many British exporters were willing to grant credit to Israel subject to British Governmental guarantees. It proposed direct participation of British firms or wholly-owned British subsidiaries in the development of Israeli industry and exploitation of Israeli natural resources.
Finally, the memorandum urged the re-establishment in Israel of a military supply center for Britain and the Western Powers, citing the success of Israel in this field during World War II. It pointed out that in the intervening period since the war Israel’s industry has been modernized and would be better able to serve than ever before.
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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.
