Tuesday, July 16, 2013


I am extremely disappointed to hear that Transport for London (TfL) has agreed to an Israeli exclusion condition put forward by the UAE relating to Thames Cable Cars.

As part of the agreement the cable car scheme can not receive funding from Israeli owned finance houses or banks. It also cannot sell a majority stake in the scheme to Israeli owned companies.

This sets a dangerous precedent effectively allowing UAE money to dictate government policy through commercial contracts. Bi-lateral trade has doubled over the past year making Israel one of Britain's key trading partners. This contractual exclusion would not benefit the UK in the long run.

I call on TfL to urgently discuss this matter with foreign and trade ministers and reconsider this agreement before any lasting damage is done” 

Paul Charney- ZF CHAIRMAN