to Turkey, possibly undermining an American offer to sell Turkey the heli- copters in exchange for its improving its human rights record. All this could mean a total volume of $3 billion a year in bilateral trade in the near future, a figure Israel has with few other countries. Turks are angry with Europe for refusing to accept it into the European Union. Europeans say Turkey must improve its human rights record, espe- cially regarding the treatment of the Kurds. Turkey complains that Europe is a closed Christian club, prejudiced against Islamic countries. Israel's military industries provide employment to tens of thousands of people, but until recently they were on the verge of economic collapse. Turkey now appears to be filling the vacuum left by South Africa, once Israel's major defense client in the 1970s and 1980s. Both Israel and Turkey see them- selves culturally and economically tied to Europe and the West more than to the region in which they are located. For Turkey, trade relations with Israel are also attractive because of Israel's special economic relation- ship with North America. The United States, for example, does not apply quotas to textile imports from Israel. Director of the Turkish-Israel busi- ness council, Ekrem Guvendiren says that although Turkey has had business relationships with the United States for a long time, they haven't been at the same level as Israel's. "The agree- ment between the United States and Israel exempts Israel from customs duties and limitations on imports. If Turkish and Israeli businessmen coop- erate, they can sell goods to the US - under privileged conditions. By lifting the taxation between Israel and Turkey you create an economy that can direct- ly export to the United States market. This is a great advantage." But not everyone in Israel is thrilled about the Israeli-Turkish free- trade agreement, which, among other things, calls for the lifting of all tariffs on textile imports by the year 2000. Israeli textile manufacturers have been nervous about the agreement, believ- ing that flooding the local market with Turkish textiles could finish off the already ailing industry. Turkey has continued to upgrade both its strategic and economic rela- tions. "The reason for this is, I think, that the leading power behind the bilateral relations is the army," says economist Liel. ❑ We'd like to give you a great reason to switch to Sterling Bank & Trust. It's called exceptional service. At Sterling, we've grown over the years because were family owned and run. We treat our customers the way we'd like to be treated —like family. We've become known for consistently paying high interest rates on savings be- cause that's important to you. So we've made it important to us. Please stop in at one of our offices and let us show you how we can be of real help with personal and corporate banking, investment and personal trust services, corporate and pension fund management, and of course, commercial. lending. Amual per yieid effedve as of 2/02198 and subject to change About notice. $2,500 minimum balance requied on money market accounts. Statement fees may reduce earnings if minim balance not maintained. ©1998 Stating Bank & Trust, F.S.B. Berkley (248) 546-2590 • Birmingham (248) 646-8787 Clawson (248) 435-2840 • Commerce Twp. (248) 669-3993 Farmington Hills (248) 489-9580 • Rochester (248) 656-5760 Southfield (248) 948-8799 • Troy (248) 649-3883 West Bloomfield • (248) 855-6644 Visit our website: www.stedingbankcom FDIC Owned and operated by the Seligman Family. 5.65°/ ENDER 5.80°/ `44: V .4,:.' 4:44.,;: ', 4, • ,1N$LIIZEC 5,00°/o 6j 6i2 ,. , Classic Account* MO. Minimum $500 Minimum $5,000 *Unlimited Checking! The Michigan Heritage Bank CI) 1)• Mail Stop in or call [oda) for an application. drop it in the mail 'dill a check. Then just sit back and %%ait. for deliver). 1-800-914-3524 21211 Ilaggertl Road at 8 Mile, TRW it LI PAIL NI ICH ICAN HERITAGE 0 FDIC LeNDEli Insured 94 •1nnual l'orcen lave l icld is elTectivv as of rel)._22_11)18_1'elialls 4/24 1998