A group of Palestinian and Israeli private sector representatives presented a joint  Declaration at a Conference on “Promoting Economic Growth in the West Bank and Gaza through the Private Sector” in London. The conference was co-hosted by the World Bank and the United Kingdom Treasury.

The Declaration identified priority areas, such as security, movement of goods, protection of investors, legal and regulatory reform and private sector participation in revitalizing the economy. 

The Declaration stressed the role of good governance, transparency and accountability in supporting business.  As such, the private sectors called for efficient Government that is responsive to the needs of local and international investors, a clear and reliable regulatory framework, and a responsible fiscal policy that does not crowd out private investment.

The Declaration was signed by members of the Working Group in the presence of Gordon Brown, UK Chancellor of the Exchequer, and Christiaan Poortman, Vice President for the Middle East and North Africa Region at the World Bank, Mazen Sinokrot, Minister of National Economy, Palestinian National Authority and Joseph Bachar, Director General of Ministry of Finance, Israel.  It emphasized the private sector as the driving force for economic growth and development in the West Bank and Gaza, and identified key priorities, including: reducing physical impediments; increasing reliability and efficiency of movement of goods and people within the area and with neighbors; identifying measures to protect the activities of investors and their businesses; and reducing the legal and regulatory obstacles to investment by local and international investors.

A Palestinian-Israeli Joint Declaration Unveiled At World Bank-HMT Conference