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US & Palestinian officials agree to establish a joint committee to boost Palestinian economy

Posted On: 18-11-2022 | National News , Economy
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Palestinian Minister of National Economy Khaled Osaily and the US Principal Deputy Assistant Secretary for Bureau of Economic & Business Affairs agreed today to establish a technical committee to convene regularly and develop a work plan for the implementation of programs and interventions to enhance the Palestinian economy.

These programs and interventions, agreed upon during the fourth US-Palestinian Economic Dialogue (USPED), include greening and digitalizing the Palestinian economy, establishing an IT hub, and enhancing access to Area C for investment in renewable energy, according to a joint statement by both parties.  

Participants recognized that advancing bilateral economic cooperation will support the shared goal of a negotiated two-state solution, and equal measures of security, prosperity, opportunity, and freedom.      

Building on the 2021 USPED, this year’s dialogue underscores the shared commitment to realize the full potential of the U.S.-Palestinian bilateral economic relationship.  US Principal Deputy Assistant Secretary Baird said, “Our discussions during today’s dialogue were essential in strengthening economic cooperation between the US government and the PA, supporting Palestinian economic development, and improving the lives of the Palestinian people.”  

Minister of National Economy Khaled Osaily stressed the significance of this dialogue and its importance in developing bilateral relations and praised the efforts of the Administration to resume US economic assistance, including through USAID and UNRWA.  He pointed out the need to support initiatives to support the Palestinian people and economy, including the implementation of steps announced by President Biden during his July visit.

Participation in this year’s economic dialogue also included the Governor of the Palestine Monetary Authority Feras Melhem, Chairman of the Palestinian Energy & Natural Resources Authority Zafer Melhem, in addition to representatives from Ministry of National Economy, Ministry of Finance, Agriculture, Tourism, Information Technology and Communication, Environment Quality Authority, the Investment Promotion and Industrial Estate, Palestinian Standards Institution, and Advisors to the Prime Minister, Estephan Salameh and Shakir Khalil.

The U.S. delegation also Counselor to the US Treasury Secretary Brent Neiman, Deputy Assistant Secretary of State for Israeli and Palestinian Affairs Hady Amr, U.S. Office of Palestinian Affairs Chief George Noll, Senior Commerce Official Robyn Kessler, US Agency for International Development (USAID) West Bank and Gaza Mission Director Amy Tohill-Stull, Development Finance Corporation Managing Director Beth Adler, and other officials from the Departments of State, Treasury, Commerce and Energy; USAID; and the Development Finance Corporation.

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