Palestinian minister says Israeli investments welcomed

Palestinians in the West Bank had recently protested the opening of a branch for Israeli clothes maker Fox in Ramallah, the seat of the Palestinian government.

Palestinian minister says Israeli investments welcomed

Palestinian National Economy Minister Jawad al-Naggui asserted on Monday that his government is ready to welcome investments from all countries, including Israel.

"We offer all necessary facilities because we believe investments are the answer for all our development problems," al-Naggui told the Anadolu Agency in an interview.

Palestinians in the West Bank had recently protested the opening of a branch for Israeli clothes maker Fox in Ramallah, the seat of the Palestinian government.

Public pressure had led to the closure of the shop, even before it was opened.

Al-Naggui, however, said the Palestinian investment law does not put restrictions on investments from any country, including Israel.

He said bilateral agreements between his government and Israel talk about joint ventures, particularly in the field of tourism.

"But Israel has been an impediment on the way of doing these projects," added the minister.

Al-Naggui has just come back from Turkey where he had attended the Arab-Turkish Meeting of Economy Ministers.

He said his Turkish counterpart had notified him of a desire to exempt some Palestinian crops from customs.

Al-Naggui said these custom exemptions would help promote Palestinian exports to Turkey.

Ankara will play host next month to a conference on supporting the Palestinian economy.

European Union's economic institutions are expected to take part in the conference along with European businessmen.

Al-Naggui blamed Israel for the continual economic deterioration in Palestine, especially since 2010.

He said Israeli restrictions on the movement of goods and persons inside the Palestinian territories had had a negative effect on the Palestinian economy.

The minister said Israel's total control over the Palestinian territories' entry and exit points had hampered Palestinian economic growth.

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Last Mod: 30 Eylül 2013, 23:25
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