“Private industry will play an important role in the economic structure of the new state of Israel,” Herman Hollander, Under Secretary for Trade in the Israeli Ministry for Trade, Industry and Supply, declared at a luncheon tendered to him by the Economic Bureau of the Keren Hayesod.
The luncheon, which was attended by a large number of industrialists, bankers, business men and manufacturers of heavy industrial machinery, was arranged as part of the program of the Keren Hayesod Economic Bureau to interest America in reciprocal trade relations with Israel.
Mr. Hollander stated that present policy in regard to free trade in Israel is much more liberal than it was during the war in the United States, although Israel is today faced with a war situation. Discussing private enterprise, Mr. Hollander said: “We shall try to find a modus vivendi between a system of private initiative which most of us really want, and regulations necessitated by the conditions, political and strategic, under which we are still laboring and foreign exchange necessities which we have to cope with.”
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