Palestinian Minister of National Economy, Khaled Al-Assaily, announced that arrangements were underway to hold a Saudi-Palestinian meeting soon in order to launch agreements that would increase trade exchange.
He revealed that a Palestinian government delegation would visit Saudi Arabia, Kuwait, Germany and Sweden to open up prospects for economic cooperation in all fields.
Al-Assaily emphasized the importance of the agreement signed between Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, and Palestinian President Mahmoud Abbas to establish a joint economic committee and a Saudi-Palestinian business council.
“This will help increase trade and Arab and foreign investment in Palestine,” he stated.
The minister added that a government committee would be formed to study means to increase exchange in investment and between various ministries.
During their meeting in Riyadh on Thursday, Abbas briefed the Crown Prince on the latest political developments and the situation in the occupied Palestinian territories, especially the Israeli violations against the Palestinian people, their land and their holy sites.
The Palestinian Authority has recently launched a plan to economically disengage from Israel, and find alternative Arab markets.
A Palestinian delegation visited Egypt, Jordan and Iraq earlier this year in order to discuss supporting the Palestinian economy. The Palestinians also decided to stop medical transfers to Israel.
They also asked for importing oil from Iraq by refining it in Jordan. But Israel has threatened the PA with punitive measures if these moves continued.
