RAMALLAH, The Fourth Palestinian-American Dialogue (USPED) was launched in Ramallah today to discuss current and future areas of economic cooperation.
Minister of National Economy Khaled Osaili and the First Deputy Assistant Secretary of State for the Office of Economic and Trade Affairs, Whitney Bird, opened the session in the presence of representatives of agencies and ministries from the Palestinian and US governments.
Osaili considered the Economic Dialogue an important opportunity to discuss and implement programs to strengthen the private sector in order to strengthen the Palestinian economy, and a place to plan and create a roadmap for mutual future cooperation and to solve the challenges that obstruct economic growth in Palestine.
Officials are expected to discuss a number of issues that would improve the Palestinian economy, increase the dynamism of the production sectors, especially trade, industry, renewable energy, and financial issues, and review the implementation of what was agreed upon in the previous dialogue.
“We are seeking cooperation with the United States to help us overcome Israeli restrictions and control over our natural resources located in Area C (of the occupied West Bank), and allowing Palestinian companies to invest in this area, which will boost our economy by 30% and boost the Palestinian government’s tax revenue by 6% of GDP,” said Osaili.
“We look forward to maintaining and expanding the container trade facilitation initiative in order to open a new route for the businesspeople, in addition to establishing a customs warehouse in Tarqumiya (south of the West Bank), Jenin (north of the West Bank) and Jericho (east of the West Bank),” he added.
“We hope to discuss and amend the Paris Protocol (signed with Israel in 1994), which has harmed the Palestinian economy and increased economic inequality between Palestine and Israel,” said the Economy Minister, stressing the need to enhance bilateral cooperation through appropriate programs and interventions, reconsider trade relations and negotiate a trade agreement that would reflect true Palestinian interest.
It is noteworthy that the volume of trade exchange between Palestine and the United States is estimated at $100 million annually, and in April 2021, the United States resumed its aid to the Palestinians after it was suspended by the former US administration under Donald Trump.
USPED met last year for the first time after a five-year hiatus during the Trump era.
Source: Palestine News & Info Agency