Jerusalem, 16 March 1999

Sharansky Meets US Commerce Secretary Daley

(Communicated by the Industry and Trade Ministry Spokesman)

Industry and Trade Minister Natan Sharansky and US Secretary of Commerce William Daley, yesterday (Monday), 15.3.99, formally announced the creation of a new Israeli-Jordanian Qualifying Industrial Zone (QIZ). Goods originating inside the QIZ will not be subject to duties in the United States.

Plans for the construction of the new QIZ, to be located on the Israeli-Jordanian border south of the Beit She’an Valley, are moving forward under the direction of the Jordan Gateway Project Corporation which has reported that a number of Israeli and Jordanian companies have already expressed an interest in joint QIZ ventures. Also scheduled to get underway is the planned expansion of the existing QIZ in Irbid, Jordan.

Sharansky and Daley also announced plans to expand the operations of the American-Israeli-Jordanian Trilateral Development (TRIDE) Foundation. TRIDE, which has already received $1 million from the participating countries and will soon receive a further allocation of $1 million now expects to move to a three-year, $10 million operating cycle.