Group Formed to Aid Israel’s Economy

The establishment of a voluntary organization of American and Israeli business people, known as the Committee for Economic Development in Israel (CED-1), was announced here today by Elmer Winter, an American business executive and president of the American Jewish Committee.

Winter who was founder and past president of Manpower, Inc., an international temporary help service firm, said the new organization represented an effort by Americans and Israelis to promote investments in Israel and Israeli exports. Characterizing Israel’s battle for economic survival as essential to winning its battle for political survival. Winter outlined the goals of CED-I as follows.

To attract additional American manufacturing plants to Israel, particularly those producing goods for exports; to assist Israeli manufacturers in improving production techniques, marketing their products and management skills; interesting American manufacturers in joint ventures and licensing agreements with Israeli industries; and increasing the sale of Israeli products in American markets.

Winter said immediately plans called for the creation of a CED-I board of directors in the U.S. to implement these goals and a board of directors in Israel to work closely with the government there to insure that American firms doing business in Israel receive all available benefits and an optimal working environment.

Winter said the establishment of local CED-I task forces in 20 major American cities was a significant step through which leading American businessmen and women from various professions and disciplines would develop working relationships in their communities leading to the import of Israeli products.