An Israeli industrialist said today that made with Egypt and economic relations with that country in general are more promising than originally anticipated. According to Naftali Blumenthal, director general of Koor Industries, Israel’s largest industrial concern, it is only necessary to compare the economies of Egypt and Israel to see that they can be made complementary, to the benefit of both countries.
Blumenthal revealed that Koor, a Histadrutowned enterprise, already has a working office in Cairo and has been exporting its products to Egypt for same time through a third country because an Israeli-Egyptian trade agreement has not yet been concluded. Koor produces chemicals, foods, electronic and communications equipment, cement, construction materials and other items. Blumenthal said Egyptian industrialists and trade leaders are not yet doing business with Israel although they appreciate the opportunities. He suggested that to encourage them, Israel should purchase certain Egyptian goods even if they are not immediately essential.
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