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........

On Jan. 1, 1989, a free
trade zone in the industrial
sector was fully established.
On that date, Israel abol-
ished its last remaining cus-
tom duties vis-a-vis the E.C.
The E.C. is today Israel's
most important trading
partner, with 35 percent of
the country's total exports
and 50 percent of its total

imports.
The present E.C. — Israel
talks aim to enlarge the sec-
tors of cooperation between
the two sides to telecommu-
nications, environment, ser-
vices, capital and new tech-
nologies.
In January, the E.C.
decided to go ahead with
trade cooperation talks with
Israel despite calls to sus-
pend them in protest over
the deportation by Israel of
400-odd Palestinian acti-
vists to southern Lebanon
last December.

12 MONTH CERTIFICATE OF DEPOSIT
MINIMUM DEPOSIT $500

This is a fixed rate account
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*Effective Annual Yield When
Compounded Quarterly.

ISRAEL AND E.C. page 35

❑

Israel To Invest
$11 Million

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Jerusalem (JTA) — The
government will invest
roughly $11 million to cre-
ate 20,000 jobs in the
administered territories in
an effort to curb massive
unemployment there.
The decision, taken at a
recent Cabinet meeting,
followed hours of debate
over what to do in response
to reports that the econom-
ic situation in the West
Bank and Gaza Strip has
continued to worsen since
the closure of the territo-
ries two months ago.
Security experts have
also warned that the eco-
nomic situation will
inevitably lead to further
frustration among Pales-
tinians and, in the end,
increased attacks against
soldiers and Jewish set-
tlers.
The Cabinet rejected a
more ambitious $37 million
job-creation program pro-
posed by ministers of the
left-wing Meretz bloc, who
fear the closure jeopardizes
the peace process. Also
rejected were Meretz pro-
posals to pay unemploy-
ment benefits to Pales-
tinians shut out from their
jobs in Israel and to allow
Palestinians from the terri-
tories to sell produce in
Israel.
The government did,
however, move to make it
easier for Palestinians to
enter Israel for purposes of
medical treatment, busi-
ness, education and access

to places of worship. ❑

