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Identifiers

Overton ID
worldbank-d2d35ba53967142e827ab2f65551783e
handle
10986/29057

Unlocking the Trade Potential of the Palestinian Economy : Immediate Measures and a Long-Term Vision to Improve Palestinian Trade and Economic Outcomes

Flag for IGO World Bank on December 19th 2017
World Bank Group
The Palestinian economy is severely hampered by trade-related restrictions, high logistics costs, cumbersome procedures and institutional inefficiencies. Operating within an uneven customs union arrangement with Israel, the Palestinian economy has accumulated an enormous trade deficit and overdependence on Israel’s economy and has neither could develop dynamic export-oriented sectors nor to tap into larger and more competitive third markets. Over the years, this situation has contributed to slow growth, high unemployment, and stubborn persistence of poverty in the Palestinian economy. A bold reform agenda is urgently required to improve the Palestinian economy’s trade outcomes. Immediate steps should be taken to reduce the burden of existing trade-related restrictions and transaction costs. The Palestinian economy should also begin the transition toward an autonomous trade regime, and can exercise control over its own customs territory, in line with its long-term economic interest. It should retain an ...

Topics in this document

Related SDGs

SDG 8: Decent Work and Economic Growth ...
SDG 8: Decent Work and Economic Growth

Target 8.1

Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries

Target 8.2

Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

Target 8.3

Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

Related COFOG Divisions

Citations

Cited by 3 other policy documents (0 of them are from other policy sources)