The Arab League Bureau for the boycott of Israel -- which blacklists firms dealing with the Jewish state -- began on Saturday (23 August) considering requests from 100 foreign companies to operate in Arab countries.
GV EXTERIOR Arab League building in Cairo
LV INTERIOR Mohamed E1 Mahgoup seated at head of conference table surrounded by delegates from Syria, Iraq, Algeria, Egypt, Yemen and Saudi Arabia
CU E1 Mahgoub
SV PAN AROUND Table showing delegates (2 shots)
SV & CU E1 Mahgoub speaks in Arabic, delegates listen (5 shots)
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Background: The Arab League Bureau for the boycott of Israel -- which blacklists firms dealing with the Jewish state -- began on Saturday (23 August) considering requests from 100 foreign companies to operate in Arab countries.
According to the bureau's Commissioner General, Mr. Mohamed El Mahgoub, the long list of requests, proved the effectiveness of the boycott.
The companies -- which bureau officials refused to name -- have submitted documents showing that they have halted business with Israel, thus complying with the boycott regulations.
Other issues under discussions by boycott officials were: the position of some firms which have continued trading with Israel despite Arab warnings; the effects on Arab country economies of preferential trade agreement between Israel and the European Common Market; measures to ensure that Arab capital does not involve any Zionist organisation and precautions to precautions to prevent Israeli gold from reaching Arab markets through Europe.
Addressing Saturday' meeting, Mr. El Mahgoub said the Arab boycott had hit Israel's economy badly, to the extent that Israel was intensifying its anti-boycott measures in Europe and the United States.
Mr. El Mahgoub said that the boycott was not racist measure -- as Israel claimed -- but a legitimate move to help restore Arab and Palestinian rights.
Mr. El Mahgoub added that the boycott was expanding and the world's industrial giants realised the great benefits of investing in Arab markets compared with what he called the "trifling" profits gained from dealing with Israel.