United States exports to Israel rose from nine percent of Israel’s total imports in 1947 to 37 percent, or more than $110,000,000 forth of commodities, raw materials and producer machinery in 1950, Israel Minister of Trade and Industry Yaacov Geri revealed today.
Making his first public appearance in the United States at a meeting of the administrative Committee of the Greater New York Committee of the $500,000,000 State of Israel bond drive at the Biltmore Hotel, Mr. Geri stated that “the forthcoming bond Issue in the United States really represents credit by those who wish Israel tell to finance these vital purchases.” Only in the United States, which has reached overwhelming importance in the economy of the world, can Israel find the tools with which to build a modern, progressive state,” he declared. “We shall always be a large customer of the United States,” Mr. Geri added.
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