Fischer on cheese debate: Avoid shutting out imports

Bank of Israel Governor Stanley Fischer on Monday addressed the nationwide cottage cheese dispute, saying "Despite all the shouting I heard about cottage cheese, in most countries a large part of the competition comes from imports."
He added, "If you close the economy to imports, you reduce the competition. It is natural that every company wants to prevent imports and competition in its field. But we should avoid this situation. We have started to become a modern economy. This happened when the government allowed imports and we joined the global economy.
"We can't expect that in such a small economy there will be competition without imports," Fischer said.