Brussels, 02/08/2012 (Agence Europe) - EU High Representative for Foreign Affairs and Security Policy Catherine Ashton “warmly welcomed”, on Wednesday 1 August, the agreements to improve the regulation of bilateral trade between Israel and Palestine, and the tax arrangements signed the previous day by the prime minister of the Palestinian Authority, Salam Fayyad, and the Israeli minister of finance, Yuval Steinitz. “These agreements are an important step forward in promoting Palestinian economic development and further improving economic relations between Israel and the Palestinian Authority”, Ashton's spokesperson said.
He recalled that, given the financial difficulties of the Palestinian Authority, the high representative had urged the two parties to conclude their discussions on how to improve the mechanisms by which Israel collects certain customs and taxation revenues on behalf of the Palestinian Authority.
After more than a year of discussion, Palestinians and Israelis have concluded agreements to facilitate application of the existing economic agreements, to develop bilateral trade and jointly tackle smuggling and tax evasion. The agreements will also improve the Palestinian Authority's tax collection infrastructure, enabling it to increase its revenues. (CG/transl.fl)