GAZA CITY, Gaza Strip — The Palestinian government continues to endeavor to find new markets to export its products and to import raw materials as an alternative for Israeli ones. The Russian market took the lead, particularly since the Russian-Palestinian political relations have developed over the past few years.
The search for new markets is part of the government's strategic plan, announced in May, to achieve economic disengagement from Israel. The plan has angered Israelis who threatened Oct. 25 to prevent the Palestinians from exporting their products in case their government continues to prevent entry of some Israeli commodities onto the Palestinian market.
The trade volume between the Russians and the Palestinians is limited presently, amounting to $41 million over the past three years, according to Palestinian official statistics that Al-Monitor secured a copy of. Russian exports to the Palestinian territories mainly focus on wheat, edible oils, crude oil and construction materials, while the Palestinians export to Russia some agricultural products.
Palestinian Minister of National Economy Khaled al-Ossaily met Oct. 24 with the legal affairs and international activities department director at the Russian Ministry of Labor and Social Protection in Ramallah. The two sides discussed mechanisms to boost trade exchange and incentives on the import of raw materials needed for the Palestinian industries.
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