New Jersey’s Governor Chris Christie signed into law a measure to prevent the state pension fund from participating in the Boycott, Divest and Sanction (BDS) movement, The Jerusalem Post reported Tuesday.
The law will keep the state’s $71 billion pension fund, belonging to some 800,000 current and retired public employees, from being used against Israel. It put New Jersey onto the list of over a dozen states that have taken similar actions.
According to the legislation, “It is important to the economic well-being of New Jersey that persons or entities conducting commercial trade and doing business in the state do not engage in boycotts of a legitimate and viable partner with whom New Jersey can enjoy open trade contracting.”
Trade between Israel and New Jersey totals over $1.3 billion in goods annually.
Israel’s Ambassador to the United Nations Danny Danon hailed the state’s action as another blow against BDS.
“State after state, we see our most important ally, the United States, continuing to stand by Israel in the fight against BDS,” he said.
The signing of the law, Danon added, proves that “this is how you defeat the forces of hate — by boycotting the boycotters.”