Palestinian National Authority Travel Guide - Business

• GDP: US$3.4 billion (2002).
• Main exports: Citrus, textiles, construction materials and metal goods.
• Main trade partners: Israel and Jordan.

Economic activity is severely restricted by a number of factors, not least Israeli-imposed restrictions. Economic growth in 2005 was estimated at 8.7%. Around half of Palestinians live in poverty, one in four is unemployed and nearly 50% do not have reliable access to food (2006). Since then, the imposition of sanctions by Israel and its allies in the West (following the newly-elected Hamas government's refusal to recognise Israel and renounce violence) has meant that the economy has come to a virtual standstill.

Substantial gas reserves have been found off the Gaza Strip which will likely prove to be an extremely important part of the economy and Palestine's most valuable natural resource.

Most businesses are small, family-run affairs producing construction materials and textiles. Business communications can be frustrating as in many instances it is difficult to get a direct response to a question. Appointments and business cards are common practice.

There are no dedicated conference and convention centres within Palestine, but Jerusalem has a number of facilities available.

Jerusalem International Convention Centre (JICC)
Binyaney Ha'ooma, PO Box 6001, Jerusalem 91060, Israel
Tel: (2) 655 8558.
Website: www.iccjer.co.il