Turkey and Israel signed today a $32,000,000 trade agreement–the largest in the history of their commercial relations. Details were worked out in a four-day meeting in Ankara and provide for 50 percent of payments to be made in hard currency and the balance through clearing arrangements.
Under the agreement, Israel will sell tires, trucks, fertilizers, cotton, nylon and silk yarns, paper, motorcycles and asphalt to Turkey and will receive sugar, cotton, tobacco, hides, oil cakes, raisins and fish.
The agreement which provides for doubling the trade volume between the two countries, is for the current year and will be extended automatically unless canceled or modified. An innovation in this agreement was that the Turkish Government undertook to list in the Official Gazette commodities that could be imported from Israel and to issue the necessary import licenses automatically.
Help ensure Jewish news remains accessible to all. Your donation to the Jewish Telegraphic Agency powers the trusted journalism that has connected Jewish communities worldwide for more than 100 years. With your help, JTA can continue to deliver vital news and insights. Donate today.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
