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Report Spectacular Rise in Trade Between Israel and Canada

October 29, 1976
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A spectacular rise in trade between Canada and Israel was reported yesterday by Ray Wolfe, president of the Canada-Israel Chamber of Commerce at the Chamber’s annual meeting here. He told the 300 members attending the meeting that trade between the two countries rose to $96 million in 1975 from $74 million in 1974. During the first six months of 1976, the volume of Canadian-Israel trade was $49 million, Wolfe said.

Zeev Sher, the Israeli Minister of Economic Affairs in New York, discussed the joint venture program recently signed in Ottawa by Israeli Foreign Minister Yigal Allon and Canadian Minister for External Affairs Donald Jamieson. Sher praised Canada as “a free country whose free enterprise system is a guarantee against the Arab boycott of Israel.”

Jacob Levinson, chairman of the Bank Hapoalim in Tel Aviv who was guest speaker at the Chamber’s dinner, announced the opening of a branch of his bank in Toronto. He spoke optimistically of Israel’s expanding economy and stressed the importance of its banking institutions.

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