Strasbourg, 27/09/2011 (Agence Europe) - Parliament gave its approval on Tuesday 27 September to a trade agreement that will help boost the Palestinian economy by enabling the West Bank and Gaza to expand exports of farm and fisheries products to the EU from early 2012.
The agreement, which will come into force at the start of 2012, grants duty-free and mostly quota-free access to the European market for agricultural and fisheries products from the West Bank and Gaza Strip. It also provides access to Palestinian markets for some European produce. Furthermore, the agreement will comply with the rules of origin, which should ensure that the Palestinian economy will benefit fully from the expansion in trade.
“This agreement offers an opportunity for the Palestinian people, a first step towards the development of a nation”, said rapporteur Maria Eleni Koppa (S&D, Greece) after the vote. Hitherto, Palestinian products have been under the direct control of the Israeli customs authorities. “It is an economic opportunity for the region which may bring prosperity and growth. Easier access to our market will help cut poverty. We hope it will bring hope for the future and more political stability to the West Bank and the Gaza Strip. This vote allows the European Union to send a united signal to the region and show our commitment to a peaceful end to the Israeli-Palestinian conflict based on the two-state solution”, Koppa added in a press release.
The Palestinian Authority is at present the EU's smallest trading partner in the Euro-Mediterranean region and one of the smallest worldwide: imports to the EU from the Palestinian Authority amounted to €6.1 million in 2009, out of total bilateral trade of €56.6 million. Agricultural products and processed agriculture products make up 70.1% of Palestinian exports.
The new import conditions are valid for a period of 10 years, which can be extended. In the unlikely event that Palestinian imports of agricultural products and fisheries products increase to a point at which they distort the EU's internal market, the EU can adopt safeguard measures. (EH/transl.rt)