European-israel Chamber of Commerce Urges Measures Against Arab Boycott

The European Economic Community- Israel Chamber of Commerce has called on the EEC to coordinate legislation against the Arab boycott of Israel.

The resolution reaffirmed the European Community’s fundamental principle of condemnation of the unlawful Arab boycott of firms trading with Israel. The President of the Chamber, former French Minister Lionel Stoleru, said that while the practical effects of the Arab boycott are waning, it remains important to condemn this practice as discriminatory and a violation of free trade.

Although the EEC-Israel Chamber of Commerce has been placed on the Arab boycott blacklist, the Chamber will continue to promote economic cooperation between Europe and Israel, Stoleru said.

The meeting here was attended by senior EEC officials and representatives of bi-national chambers of commerce of 10 countries.

Also on hand was Israel’s Minister of Commerce and Industry, Ariel Sharon, who met with his Belgian counterpart, Herman De Croo, and the European Commissioner of the EEC in charge of Mediterranean policy, Claude Cheysson.

The meeting reviewed commercial and economic relations between Israel and the EEC countries and called for promotion of technological and industrial cooperation between the Community and Israel.

This would include joint ventures in high technology, pre-investment assistance and risk capital. The participants emphasized Israel’s close trade relations with both the EEC and the United States.

The resolutions approved Israel’s recent linkage of the Shekel with a basket of European currencies, along with the U.S. Dollar.

The chamber will meet again in October.