Foreign Ministry sources disclosed today that Pey, one of Britain’s largest radio and electronics firms, has decided to reappoint the agency which formerly represented it in Israel, thus ending its submission to the Arab boycott. Pey was one of seven overseas firms named by the Israel Government as having ended trade ties with Israel under Arab pressures, the other six including American, West German and Japanese companies.
The seven firms had indicated willingness to continue trade with Israel on a subrosa basis, in effect hoping to get the benefits of Israeli business while also retaining Arab trade ties. However, the Israel Government blocked that move by requiring that products of such companies have special import permits. The resulting publicity led to the companies’ resuming normal trade relations, with Pey the last to do so.
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