American-israel Trade Relations Exceeded $100, 000, 000 Last Year

Trade between the United States and Israel exceeded $100, 000, 000 last year, Israel Consul General Simcha Pratt reported tonight at the annual dinner of the American-Israel Chamber of Commerce held at the Hotel Biltmore. On behalf of the Israel Government, he invited American businessmen to invest capital in Israel and to provide “know-how” for the country.

Mr. Pratt, who was the principal speaker at the dinner, noted that the figure in America-Israel trade reached last year brings the total volume of economic relations between Israel and the U.S. –including investments, long term loans, travel–to the quarter billion dollars mark. Israel, he said, is now augmenting the production of goods for local consumption with the manufacture of export items and capital goods, and will extend every facility to foreign investors who wish to share in these developments. He lauded the Chamber’s role in promoting the economic relations between the two countries.

In line with the Chamber’s practice of highlighting each year, on the occasion of the dinner, one of the industries doing business with Israel, last night’s affair honored the Motion Picture Industry of America. Nathan Straus III, president of the Chamber, stated that the Motion Picture Industry’s role went beyond trade relations as such, because the many visits by celebrities and the industry’s executive to Israel, the shooting and plans for motion pictures in Israel, and the showing of American movies there have done much to bring closer the two countries and the two nations. Arthur B, Krim, president of United Artists Corporation, accepted the Award of Merit in behalf of the industry.