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Israel’s Euro-market Ties Studied

August 21, 1974
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Foreign Minister Yigal Allon told seven Israeli ambassadors today that Israel would make a special effort to improve relations with Europe. He said there were good prospects to achieve that improvement. Allon spoke at the beginning of a three-day seminar by the Foreign Ministry senior staff discussing Israel’s relations with Europe.

Finance Minister Yehoshua Rabinowitz told the seminar that the trade deficit between Israel and Europe would be this year some IL 1.5 billion compared to IL 1 billion last year. He called on the ambassadors to examine the possibilities of bridging the growing gap between Israel’s export and import with Europe.

Bank of Israel Governor Moshe Zanbar called for minimizing dependence of Israel’s economy on foreign countries. The seven envoys will meet with Premier Yitzhak Rabin, Defense Minister Shimon Peres, and military intelligence chief Shlomo Gazit for further discussions on this topic.

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