After a four-year freeze, Israel and the Palestinians' business sectors are resuming cooperation.
A group of businessmen, including Gaon Agro Industries (TASE: GAT) chairman Benjamin (Benny) Gaon, Pele-Phone Communications Ltd. CEO Yacov Gelbard, Delta Galil Industries (Nasdaq: DELT; TASE: DELT) chairman Dov Lautman, and Manufacturers Association president Shraga Brosh are setting up with Palestinian and Swedish businessmen the Palestine International Business Forum. The Forum aims to guide and promote the efforts of international and local private businesses towards improving the work and trade environment in Palestine and the region.
Palestinian participants in the Forum include National Beverage Company/Coca-Cola chairman and CEO Zahi Khouri, Exalt Technologies managing director Tarek Maayah, and Grand Engineering Systems chairman Iyad Joudeh.
The International Council of Swedish Industry (NIR) is sponsoring the Palestine International Business Forum. AB Volvo SVP Karl Erling Trogen and Ericsson VP head of government affairs and regulation Ulf Pehrsson are participating NIR members.
Khouri said, "There is an urgent need for the Palestinian private sector to connect with the international private sector, most of which is unaware of the significant problems faced by the Palestinian private sector. There are potentially big opportunities in the Palestinian economy. There is also an urgent need not only to encourage investment, but to change the image and business credibility in the minds of international investors so that they reconsider investing in the region."
Published by Globes [online], Israel business news - www.globes.co.il - on March 30, 2005