UAE-Palestinian trade exchange set to grow

Palestinian Economy minister Dr Mahmoud Abu Libda has paid tribute to the UAE for the continuous support given to the Palestinian people, saying that the UAE Red Crescent Authority had so far administered over Dh1 billion worth of humanitarian aid to the Palestinians.

Speaking to WAM ahead on the sidelines of the Palestinian Investment Conference, starting tomorrow, Abu Libda said RCA was currently engaged in construction and relief projects for Palestinians in Gaza, West Bank and refugee camps in Syria and Lebanon at a total value of Dh224 million. He noted that the Palestinians possessed the experience and capitals necessary to establish their own state and to build a robust and prosperous economy.

"The occupation is the only obstacle that is hindering us from realizing economic development. We are trying hard with the countries that have influence on Israel to allow the Palestinians to run their own economy and to secure foreign investments." In a recent report by the UAE Ministry of Foreign Trade, Palestine ranked 158 in the size of trade with the UAE, which accounted for only US$4.1 million.

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