Israel proposed today the creation of a Middle Eastern Economic Community to “serve as a common market for our Arab neighbors and ourselves” once peace is established in the region. Addressing the United Nations Economic and Financial Committee, Gad Yaacobi, a member of the Knesset and of Israel’s Mission to the UN said “Israel is willing to share its knowledge in various areas such as agriculture, water resources, including the desalination of sea water and innovations in irrigation techniques and solar energy.”
Yaacobi, who served as Minister of Transport in the former Labor-led government, referred to conditions on the West Bank and in the Gaza Strip to illustrate how the sharing of know-how and regional cooperation can contribute to the economic growth and the welfare of the populace.
“During the years 1968-76, the Gross National Product (GNP) in the West Bank has risen by an annual average of 18 percent in real terms,” he noted. “Income per capita has increased by 80 percent in the West Bank and 120 percent in the Gaza Strip. Agricultural produce has increased by 20 percent per annum by contrast to the unrealized target of FAO (Food and Agricultural Organization) which is an annual increase of only four percent in world agricultural produce.”
Yaacobi said that a regional economic community in the Middle East could pursue the common development of energy, water resources, irrigation techniques and tourism once borders were opened. “All this and more is possible if peace is established in our region,” he said.
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