Turkish Delegation Arrives in Israel to Discuss Investment in Palestinian Business Project

A Turkish delegation met in Tel Aviv on Monday with Likud Deputy Minister Ayoub Kara, the acting minister of the Regional Cooperation Ministry, to promote a proposal to build an industrial zone near Jenin in the West Bank.

The Turkish delegation included Prof. Guven Sak, the managing director of the Economic Policy Research foundation of Turkey, an economic policy think tank based in Ankara.

The proposed industrial zone would cover an area of 1,300 acres initially, and would likely expand later on. The Foreign Ministry had no comment on the delegation, though it is hosting a delegation of Turkish reporters in the country.

The Turks purchased the plot from the Palestinians at a cost of $10 million, with the final cost for the project expected to reach $100m. The project, backed by Israel, the US and the EU, would allow for duty-free export of goods to the US.

The planned project appears to resemble the successes of the Egyptian-Israeli free-trade areas known as Qualifying Industrial Zones.

…

Oren Kessler, a former Jerusalem Post reporter and now deputy director for research at Foundation for Defense of Democracies in Washington, published an article in Foreign Affairs last week, stating that there are 15 such industrial parks that can export duty-free goods to the US.

… 

Read the full article here.