Resolution Adopted by the CCAR

ISRAEL'S ECONOMIC GROWTH

Adopted at the 106th Annual Convention of the
Central Conference of American Rabbis
Jerusalem, Israel
March, 1995 / Adar II, 5755

Background

Israel's spectacular economic growth has been noticed by world businesses. Major energy corporations have opened negotiations to supply Israel with petroleum and its products, to build pipelines through Israel for transshipment of oil and natural gas, and to write contracts for joint exploration and to connect Israel's electric grid with those of Jordan and Egypt. High tech companies have finally discovered the quality of Israel's work force, and international investment firms are moving to establish offices and activity in Israel. All these suggest the prospect of a Middle East common market that would give an enormous boost to economic stability, prosperity and peace.

Within Israel, the Gross Domestic Product has grown 25% over the past five years, with a projected growth of 6% in 1995. This growth is driven by expansion of exports, at an annual rate of 8.6%. Inflation has been kept to 14-15%, while tax revenues grew 11% in 1994, along with a 7.9% rise in production. Unemployment fell to 8%. This economic growth can provide employment for the immigrants arriving at a rate of 60-70,000 annually.

THEREFORE, BE IT RESOLVED, that the CCAR express its gratification for the economic dividends of the peace process, and

BE IT FURTHER RESOLVED, that the CCAR call upon the Government of Israel to encourage growth and investment and to aid the process by increasing privatization efforts, and

BE IT FURTHER RESOLVED, that the CCAR call upon business interests in the United States and Canada to explore the investment opportunities in Israel and defy all remnants of the Arab boycott against Israel, and choose Israel as a prudent investment resource solely on financial grounds, and

BE IT FURTHER RESOLVED, that the CCAR call upon institutions of Reform Judaism to invest in Israel.