The conclusion of a trade pact between Israel and Uruguay, the fifth major trade agreement signed by Israel, was announced here today by the Foreign Ministry. The pact was negotiated by Yaacov Tsur, Israel Minister to Argentina, and the Uruguayan Foreign Minister.
The pact involves an exchange of goods and the importation from Uruguay of $3,200,000 worth of goods for which payment will be made in cash. The cash payment will be made in two forms: 50 percent will be paid in hard currency, while the remaining 50 percent will be paid in Uruguayan money. Forty percent of the total imports to Israel will be kosher meat products while Israel will export diamonds, artificial teeth, pharmaceuticals, chemicals, olive oil and wines.
The Foreign Ministry also announced that commercial pacts are being negotiated with France, while talks have just been initiated with Argentina. Trade pact negotiations are well advanced with Czechoslovakia and Yugoslavia, it was stated.
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