Dr. Theodore Meron, Israel’s Ambassador to Canada, assisted by Amos Bergner, deputy managing director of Bank Hapoalim of Tel Aviv, and Menachem Lachat, Israel’s trade commissioner to Canada, yesterday signed a new financial agreement with the Export Development Corporation of Canada providing for long-term credits amounting to $25.6 million to the Israel Electric Corporation for Eshkol C and D thermal power stations in Ashdod. Alastair W. Gillespie, Canada’s Minister of Trade and Commerce, signed the agreement on behalf of his government.
Dr. Meron noted that this is the second major contract between the EDC and Israel in recent weeks. At the end of Dec a $10 million agreement was signed providing financial support for purchasing new passenger and baggage handling equipment, navigational and flight control service equipment for Lod Airport and rolling stock for Israel’s state railway.
The Israeli envoy said yesterday that the EDC “has performed an important role in the encouragement of Canadian exports to Israel.” He added that the agreements express a growing awareness in Canada of a market in Israel and a similar awareness in Israel of the potential opportunities in Canada. “The steady increase of exports in both directions,” Dr. Meron said, “is encouraging and will also help to stimulate more Canadian companies in Israel.”
Ray Wolfe, president of the Canada-Israel Chamber of Commerce, who participated in yesterday’s ceremony, was credited with playing a major role in developing the trade agreements between the two nations.
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