Kerry plans West Bank economic revival
The US Secretary of State, John Kerry, said on Tuesday that he will work with leaders from Palestine and Israel to revive the West Bank's ailing economy, Reuters reported.
"We agreed among us ... that we are going to engage in new efforts, very specific efforts, to promote economic development ... and to remove some of the bottlenecks and barriers that exist with respect to commerce in the West Bank," Reuters quoted Kerry as saying during a tour of the region.
The Palestinian economy is continuing to struggle, as aid money pledged is not forthcoming and Israel periodically halts the transfer of taxes it collects on the behalf of the Palestinian Authority under the 1994 Paris Protocol.
In March, the US unfroze financial aid to the West Bank, which it halted in response to the PA's successful bid for non-obsever member status at the UN in November last year.
John Kerry is currently on a ten-day tour comprising of the Middle East, Asia and Europe.
- Why India is likely to re-emerge as the UAE's top trade partner
- What's really attracting high net worth individuals to living in the UAE?
- Forbes Middle East reveals names region's 200 most powerful women
- Presidential vacuum, Syrian crisis leaves Lebanon's business leaders more than worried
- Oil wells, taxes, and scare tactics: how the IS has been making money all this time
- Palestine to receive frozen taxes from Israel
- Ending US aid to Egypt could result in "chaos" - soon to be Secretary of State John Kerry warns
- Israel grants 5,000 West Bank Palestinian work permits
- Can't buy me love (or loyalty?): Obama's $1 billion loan guarantee to Jordan is more than just a simple number
- US committed to supporting Libyan economy