The European Common Market is expanding its economic ties with both Israel and the Arab states. The trade agreement, initialed last week between Israel and the European Economic Community, is expected to be broadened to include financial cooperation. The new agreements would be negotiated this year and implemented after the trade accord is put into effect late in the year.
Jean Durieux, head of the EEC delegation, announced when he initialed the pact last Thursday that the new project had been submitted to the EEC Council of Ministers. According to well informed sources, it includes the establishment of a cooperative body on the ministerial level that would meet once a year; a renewable five-year financial cooperation plan; and facilitated contacts between the EEC parliament and the Knesset.
The Council of Ministers, meanwhile, is examining trade agreements to be negotiated separately with Egypt, Libya, Syria and Jordan. The accords would be within the framework of the Common Market’s Mediterranean policy and would rest on the same foundations as its agreements with the Maghreb countries–Morocco. Algeria and Tunisia, Most industrial products from the Arab countries could be imported duty-free and a list of agricultural products would be established for each country.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
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.
