“American products, which could not be bought otherwise by a number of countries because they are short of dollars, are nevertheless marketed in those countries because they can buy such products from Israel, where American products are increasingly assembled and manufactured,” Avraham Salmon, economic counselor of the Israel Embassy in Washington, declared here today.
Speaking at a luncheon of the American-Israel Chamber of Commerce and Industry held at the Hotel Roosevelt, Mr. Salmon revealed how Israel’s system of trade agreements with some 15 countries in Europe and Asia enabled those countries to buy much-wanted American products from Israel, paying with their own merchandise in return. This was possible, he said, because Israel-through its own resources, foreign investments, etc., was able to acquire in the U.S. the parts, raw materials, patents and technical know-how for the assembly or finishing of such products in Israel.
“While such arrangements directly and indirectly increase American exports, they directly increase Israel’s own exports, Mr. Salmon said. Using American tires and tubes made in Israel as an example, Mr. Salmon pointed out that their exports from Israel increased from $900,000 in 1953 to $2,300,000 in 1954. “Here is an opportunity offered to the U.S. manufacturer and exporter,” he said, “looking for new markets through an expanded trade with a triangular impact.”
JTA has documented Jewish history in real-time for over a century. Keep our journalism strong by joining us in supporting independent, award-winning reporting.
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.
