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Israel, PA reach first economic agreement since 2002

Finance Minister Steinitz, Palestinian PM Fayyad agree to broaden economic cooperation and improve collection of taxes on goods-

Finally, after a decade a ministerial economic agreement has been reached between Israel and the Palestinian Authority. Minister of Finance Yuval Steinitz announced Tuesday that he has reached an understanding with Palestinian Prime Minister Salam Fayyadabout broadening economic cooperation and improving tax collection on goods which reach the PA via Israeli ports.
The agreement includes four major understandings between the two parties.


First, it has been agreed that there's a need to set up a pipeline to transport fuels directly from Israeli ports to the PA. Currently fuels are transferred by trucks.


Additionally, two steps will improve the collection of customs tax and VAT on goods which reach the PA via Israeli ports. Today, VAT and customs tax on g

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Added: Aug-1-2012 Occurred On: Aug-1-2012
By: aydeo
In:
Other Middle East
Tags: Israel, PA, First economic agreement, 2002
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