The instruments of ratification of the Treaty of Friendship, Commerce and Navigation between Israel and the United States were exchanged today between the Ambassador of Israel. Atba Eban, and the Acting Secretary of State, General Walter Bedell-Smith at the Department of State.
The treaty, which assures “national” and “most favored nation” treatment for nationals of either country in the territories of the other, was signed at Washington on August 23, 1951 and ratified by the U.S. Senate on July 21, 1953. The Israel Government ratified the treaty on January 6, 1952. It will enter into force 30 days after the present exchange of ratifications and will remain in force for ten years, continuing in effect thereafter unless terminated by mutual agreement.
Embodied in the treaty are assurances of the type which American businessmen and investors regard as useful and desirable and which are illustrative of Israel’s intention to encourage foreign investments such as personal freedoms, property rights, investment and business activities, taxation, exchange regulations, the treatment of imports and exports, shipping and other matters.
The treaty reflects the principle of mutuality and is in keeping with the policies of both countries in making international economic relationships as free and as nondiscriminatory as possible. As stated in its preamble, the treaty is based on the desire of the United States and Israel to strengthen the traditional bonds of peace and friendship between the two countries and to encourage even closer economic and cultural relations between their peoples.
(Israel became a party to an agreement for participation in the financing and maintenance of 22 meterological stations in the North Atlantic at the third International Conference on Civil Aviation which closed today in Paris. During the discussions a number of delegations underlined Israel’s special position in relation to these stations because it is the only Middle Eastern country operating a regularly scheduled transatlantic service.)
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