Economic Pact
Is Rethought
Jerusalem — Certain clauses of
the Paris economic accords be-
tween Israel and the Palestinian
Authority must be canceled and
others redrafted, said PA Chair-
man Yassir Arafat's chief eco-
nomic adviser, Mohammed
Rachid.
"The accord is no good because
the PA economy is more limited
[than Israel's]," said Mr. Rachid.
"We signed it and we're being hit
by it."
Pointing out that of a $2.4 bil-
lion bilateral trade volume, 95
percent comprises Israeli ex-
ports, Mr. Rachid said the agree-
ment encourages monopolies,
and the PA is loosing hundreds
of millions as a result of non-re-
turned taxes, particularly pur-
chase tax.
The PA, according to Mr.
Rachid, has to purchase all its
milk and milk products from
Tnuva. "Why is it forbidden for
us to import milk from abroad?"
asked Mr. Rachid.
In terms of the purchase tax,
he claimed that Israel, in line
with the agreement, does not
hand over purchase tax on goods
bought by Palestinians from Is-
rael or imported through Israel.
"We've lost $170 million in 30
months on the purchase of cig-
arettes alone," he said.
One partial solution, as far as
the Palestinians are concerned,
would be the creation of a Gaza
seaport, according to Hebrew
University economics professor
Ephraim Kleiman. This would
allow for direct imports to the ter-
ritories, consequently reducing
the use of Haifa and Ashdod and
cutting out the need for Israeli
middlemen.
IBM Buys
Israel Products
Jerusalem (JPFS) — IBM signed
a reciprocal purchase agreement
with the Ministry of Industry
and Trade in Israel.
According to the agreement,
IBM is committed for the next
three years to buy Israeli prod-
ucts totalling the same amount
as the company's sales to the Is-
raeli government.
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