Israel Corporation (TASE: ILCO) chairman Idan Ofer hosted key Israeli and foreign economic figures at his home in Arsuf two nights ago. The dinner guests discussed way to improve Israeli-Palestinian economic relations.
Guests included Better Place LLC CEO Shai Agassi, Bank Hapoalim (TASE: POLI) chairman Yair Seroussi, former prime minister Ehud Olmert, Adv. Dov Weissglass, Palestinian Authority Prime Minister Salam Fayyad, Israel Corp. CEO Nir Gilad, and Goldman Sachs chairman CEO Lloyd Blankfein. Blankfein scheduled a series of meeting on his one-day trip to Israel, before leaving yesterday.
"This was not the first event of its kind," said a knowledgeable source. "Meetings between businesspeople and political leaders to promote the economy are not unusual."
Over dinner, the participants discussed issues relating to improving Israeli-Palestinian economic relations, such as capital transfers between banks and foreign currency conversions, both of which are made difficult by anti-money laundering laws and laws to prevent the financing of terrorism.
The dinner is part of Idan Ofer's position that political issues of the Israeli-Palestinian dispute should be kept separate from business relations.
Israel Corp. is considering expanding its business in the Palestinian Authority.
"There is a direct channel with the Palestinians at the business level," a knowledgeable source told "Globes". "It's important to make the break with politics, so that it will be possible to reach dialogue on political issues, as well, in the future. This is what happens elsewhere in the world; between China and Taiwan, for example. There is a longstanding dispute, but they recently decided to tighten business ties. In business, in contrast to politics, the goal of both parties to make a profit, and to do this, they understand that they have to reach deals and compromises. That the businessman's advantage."
Published by Globes [online], Israel business news - www.globes-online.com - on February 24, 2010
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