The Israel Manufacturers Association this weekend concluded its annual convention with the adoption of resolutions calling on the government to abolish all economic controls and to lift foreign currency restrictions. The IMA, which voiced approval of the recent liberalization of economic policy by the government, also appealed to the government to protect local industry by keeping out competing products.
The convention also called on manufacturers to make efforts to increase production and urged the government to cooperate with industry in these efforts by making available to manufacturers foreign currency earned by exports. It also demanded a reduction in taxes, which it held responsible for high prices. The IMA asked that the cost of living index be computed by the government only after consultations with industrialists.
Earlier, the convention heard Minister of Trade and Industry Dr., Peretz Bernstein report that industry is not yet operating at full capacity and urge renewed efforts to increase exports, particularly in those fields where Israeli products can compete successfully with foreign goods. Arieh Shenkar was re-elected president of the Association.
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