The Palestinian Authority seeks to strengthen ties with Japanese companies, although the territory's economy is in a severe state due to the political situation involving Israel, planning minister Ali Jarbawi said during a recent interview.
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| Business solution: Palestinian planning minister Ali Jarbawi speaks in an interview in Tokyo last month. KYODO PHOTO |
The Palestinian minister of planning and administrative development, who recently visited Japan, also said the Palestinian economy has the potential to become "a hub for the whole Middle East" when the Israeli occupation ends in areas where Palestinians hope to establish a state, and that foreign investment would help in ending the occupation.
"We want to establish a strong relationship with the private sector in Japan," Jarbawi said, while acknowledging the hesitancy seen among large companies to invest because of the difficult political situation.
He said the Palestinian economy has been a "captive" one, with the West Bank having around 500 checkpoints that make it hard for Palestinians to freely move goods and products from one area to another.
"The economy is developing this year by (8.5 percent gross domestic product) . . . we know that if the occupation ends, the 8 1/2 will be a two-digit number," Jarbawi said, adding there is a good education system and skilled workers.
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