A contract governing purchases in Canada to the extent of several million dollars annually has been signed in Montreal between the Government of Israel Supply Mission and the Canada-Israel Corporation. The corporation was set up by the Canadian Jewish Congress and the United Zionist Council of Canada as part of the joint program to spur trade between Canada and Israel and in other ways to further the economies of the two countries.
The newly signed agreement between the Israeli Supply Mission and the Canada-Israel Corporation authorizes the Canadian corporation to act as a confirming house for the mission in Canada. It will finance the purchase of Canadian goods on behalf of the supply mission and will assist in shipping arrangements.
Credit arrangements to the extent of nearly $3, 000, 000 have already been set up by the corporation in Canada on a short term basis, and it is expected that some $6, 000, 000 of annual trade between this country and Israel will be made possible through the operations of the corporation.
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