Arabs, Israelis Secretly Plan Joint Projects : Middle East: Business ventures have reportedly been under discussion for 18 months. Tourism and aviation are possibilities.
Arab and Israeli businessmen have secretly negotiated business ventures in the Mideast for the last 18 months, according to the latest edition of U.S. News and World Report.
An Israeli official close to the secret talks told the magazine that plans for 10 to 20 projects worth $2.5 billion, including four joint ventures in the service sector, will be finalized in a few weeks. He said meetings have been held with about 200 businessmen in almost every European capital.
Most of the contacts have been between Israelis and Arabs from North Africa and the oil-rich countries of the Persian Gulf, the magazine said.
Commercial projects under discussion include regional tourism packages, agricultural technology sales, aviation, energy and communications and long-term investments in the region’s infrastructure, it said.
The projects are not likely to become reality unless there is continued progress toward Palestinian self-rule in the West Bank and Gaza Strip, and toward normalizing relations between Israel and neighboring Arab countries, particularly Syria, the magazine said.
On Friday, the international community pledged $2 billion over the next five years to help the Palestine Liberation Organization take administrative control from Israel in Gaza and parts of the West Bank after last month’s historic peace accord between the PLO and Israel.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
