GAZA city, Gaza Strip — The Palestinian govt continues to exercise to find new markets to export its products and to import uncooked substances as an choice for Israeli ones. The Russian market took the lead, particularly on account that the Russian-Palestinian political relations have developed over the last few years.
the search for brand new markets is part of the govt's strategic plan, introduced in may, to achieve economic disengagement from Israel. The plan has angered Israelis who threatened Oct. 25 to stay away from the Palestinians from exporting their products in case their govt continues to keep away from entry of some Israeli commodities onto the Palestinian market.
The alternate volume between the Russians and the Palestinians is limited at the moment, amounting to $41 million during the last three years, according to Palestinian reliable records that Al-monitor secured a replica of. Russian exports to the Palestinian territories above all focus on wheat, safe to eat oils, crude oil and development materials, whereas the Palestinians export to Russia some agricultural items.
Palestinian Minister of country wide economic system Khaled al-Ossaily met Oct. 24 with the criminal affairs and international activities branch director on the Russian Ministry of Labor and Social insurance plan in Ramallah. the two facets discussed mechanisms to raise trade exchange and incentives on the import of raw materials essential for the Palestinian industries.
They wired the significance of the joint economic committee, based on April 13, 2015. The committee met 3 times — in 2016, 2017 and 2018 — and is scheduled to convene Nov. 20 in Moscow within the presence of a Palestinian financial delegation involving delegates from diverse ministries and businessmen.
Azmi Abdel Rahman, director usual of the commonplace Directorate for Planning and coverage on the Palestinian Ministry of national economy, advised Al-display screen, "The Russian market is of essential financial importance for Palestinians, chiefly for the Palestinian exports and the import of raw substances [to the Palestinian territories]."
He defined that the change exchange has accelerated over the past three years, and that the Palestinian exports to Russia reached $four hundred,000 in 2016, whereas the Russian exports to the Palestinian territories amounted to $7.5 million. He delivered that the Palestinian exports to Russia multiplied to $781,000 in 2017, and declined to 200,000 in 2018, whereas the Russian exports to the Palestinian territories reached $15 million in 2017 and $17 million in 2018.
Abdel Rahman referred to that the Palestinian exports to Russia are headquartered on agricultural items, while the Palestinians import wheat, crude oil, development materials and timber items from Russia. He stated that three agreements in the customs and assistance trade fields will be signed in Russia Nov. 20, moreover one more contract with the Palestinian Businessmen association.
The anticipated contract on customs concerns, whose provisions were drafted in November 2018, seeks to exempt some Palestinian exports to Russia and Eurasia from customs tasks. speaking to Al-display screen on condition of anonymity, an legitimate on the Russian Embassy in Ramallah pointed out in August that the joint committee will investigate a Palestinian request for Russia to fund an industrial zone in Nablus.
Palestinian major Minister Mohammad Shtayyeh mentioned Aug. 8 with Russian Ambassador to the Palestinian Authority (PA) Gocha Buachidze the opportunity of developing an industrial zone in Nablus with Russian help and with the aim of boosting the Palestinian financial system.
chatting with Al-monitor, Hossam Zaal, head of the Palestinian Federation of leather-based Industries and a Palestinian businessman, pointed out that he will be part of the delegation to Russia to fulfill with representatives of the Russian Federation of sneakers and leather Industries, sign cooperation protocols in these fields and market Palestinian items in Russia.
He mentioned that the talks right through the anticipated meeting with the Russian union of chemicals used in leather items and plastic items involve an introduction to the chemical substances used within the sneakers and leather industries. He brought that an agreement facilitating the import processes of Russian uncooked substances used in the sneakers and leather industries will be signed.
Jamal Jawabreh, secretary-well-known of the Federation of Palestinian Chambers of Commerce, trade and Agriculture, advised Al-display screen that the consult with to Russia, which he may be a part of, will talk about funding an industrial zone in Nablus and new Russian markets for Palestinian exports, notably industrial and agricultural items.
He referred to that Russia has been interested in importing Palestinian greens and fruits in view that 2015, which it used to herald from Turkey. Yet Turkey capturing down a Russian warplane in 2015 and the following Russian economic sanctions towards Ankara brought about Russia to hotel to the Palestinian market, which in flip extended the Palestinian agricultural exports to Russia.
both aspects signed in November 2018 a highway map designed to develop trade and financial cooperation in 2019-21, assist industrial corporations within the two countries and stimulate the economic activities of Palestinian and Russian groups.
speaking to Al-display screen, Samir Abdullah, senior researcher on the Palestinian financial policy research Institute - MAS, pointed out that the PA is willing to improvement from the turning out to be political relations with Russia to boost trade alternate. here's proper in particular on the grounds that the PA is satisfied that Russia can put force on Israel with the intention to avoid it from assembly its threats of obstructing the export of Palestinian goods and imports.
He explained that the greatest problem facing Palestinians is the stiff competition the Palestinian goods will face in the Russian open market. He expressed hope that the agreement exempting Palestinian items from customs costs in Russia will boost the change alternate between the two nations.
The declining US position within the Palestinian-Israeli file is outwardly an opportunity for the Russian and Palestinian facets to boost bilateral political and economic relations, which the exchange of visits during the past two years element at.