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Boycott Blues
The six member states of the Gulf Cooperation
Council say they won't adhere to the secondary and
tertiary Arab economic bans.
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he six member states of the ners.
"As a result of these measures
Gulf Cooperation Council
(GCC) dealt a death-blow to and for all practical purposes, the
the secondary and tertiary secondary and tertiary boycotts
Arab economic boycotts against are no longer a threat to the in-
Israel when they announced they terests of these partners," the
would all stop adhering to the statement said.
Mr. Christopher told reporters
decades-old bans.
The GCC includes Saudi Ara- that the GCC agreed to stop en-
bia, Kuwait, Oman, Qatar, forcing the secondary and tertiary
Bahrain and the United Arab boycotts and not to discriminate
against American companies.
Emirates.
He said the Gulf states' com-
Under the secondary boycott,
Arab countries blacklist compa- mitment was "a very significant
nies which do business with Is- step toward realizing the U.S.
rael. Contacts with companies goal of ending the Arab boycott."
In New York, Israel Foreign
which deal with black-listed com-
panies are banned under the ter- Minister Shimon Peres said the
decision was "an additional move
tiary boycott.
A GCC statement issued after in dismantling the walls of hatred
talks between Saudi Arabian For- and separation and boycott."
Israel Finance Minister Avra-
eign Minister Saud al-Faisal and
U.S. Secretary of State Warren ham Shohat said the move would
Christopher in New York said the provide a boost to the Israeli econ-
six states had taken "necessary omy.
The move is expected to allow
measures" to protect the interests
of the GCC and its trading part- many multi-national firms to do
T
LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Sept. 23 Sept. 30 Change
Symbol
Name
Exchange
SCIXF
Scitex
NASDAQ
'21.75
5
22.50
+s0.75
ECILF
ECI Telecom
NASDAQ
'17.00
'17.63
+$0.63
TEVIY
Teva Pharm
NASDAQ
'28.00
'28.38
+-'0.38
I EC
PEC Israel
NYSE
'29.38
'29.25
5
ELBTF
Elbit Computers
NASDAQ
'26.00
'24.25
-'1.75
ELT
Elscint LTD
NYSE
'2.38
'2.13
-'0.25
ELRNF
Elron Electronics NASDAQ
'10.88
'10.25
-'0.63
TAD
Tadiran
NYSE
'23.13
'21.75
-51.38
CMVT
Comverse
NASDAQ
'10.13
'10.50
-1-'0.38
LANTF
Lannet Data
NASDAQ
'9.38
'9.00
-'0.38
ISL
First Israel Fund NYSE
'13.63
'13.25
5 0.38
0.13
Source: Allen Olender, Prudential Securities,
West Bloomfield.