Preparatory meeting for the Palestinian-Saudi Economic Conference

The Palestinian federation for industries (PFI) held its first preparatory session for the Palestinian-Saudi Economic Conference at its headquarters on Monday. The session saw wide participation from economic figures, representatives of Palestinian companies, representatives of specialized federations and chambers of commerce, and members of the Private Sector Council.

Mr. Nassar Nassar, President of the General Union of Palestinian Industries, opened the meeting by welcoming the attendees and emphasizing the importance of strengthening cooperation and partnership, and creating opportunities based on Palestinian national priorities and their alignment with the Kingdom of Saudi Arabia's Vision 2030. He praised the Kingdom of Saudi Arabia's role, efforts, and support at both the political and economic levels.

Mr. Nassar affirmed that this meeting aims to develop a roadmap and a unified vision for the Palestinian private sector to support the Palestinian government's efforts and enhance economic cooperation between the State of Palestine and the Kingdom of Saudi Arabia.

Mr. Saeb Bamieh, for his part, highlighted the government's efforts, led by the Ministry of Planning, and the pivotal role of the private sector in developing the cooperation and partnership agenda. Secretary-General Suha Awadallah also discussed the reality of Palestinian-Saudi economic relations and the most important investment opportunities to increase exports, substitute imports, and establish joint projects in promising Palestinian sectors.

The attendees discussed mechanisms for deepening economic cooperation by addressing the challenges associated with accessing the Saudi market and the importance of discussing these challenges within the framework of the Palestinian-Saudi Business Council.

They also highlighted the importance of cooperation in promising sectors such as tourism, investment in telecommunications infrastructure, and real estate, particularly with regard to investment as a priority within the reconstruction efforts in the Gaza Strip.

In conclusion, it was agreed that the private sector should be represented with a unified vision and positions that serve the interests and development of the Palestinian economy.

Prominent economic figures from the West Bank and Gaza Strip participated in the meeting.