ANKARA - A memorandum of understanding (MoU) signed on January 4th, 2006 in Ramallah between Turkey and Palestine and a joint declaration, signed on January 5th, 2006 in Jerusalem between Turkey and Israel to revitalize, develop and manage the Palestine Industrial Free Zone (PIFZ) entered into force after being approved by Turkish Council of Ministers on November 20th,2006 and published on Official Gazette today.
Within the framework of MoU, a developer company will be established in Palestine through a partnership between the Union of Chambers & Commodity Exchanges of Turkey (TOBB) and the Federations of Palestinian Chambers of Commerce, Industry & Agriculture (FPCCIA). The said company will develop and manage an expansion zone to be defined in the concession agreement.
Turkey and Palestine agreed that for the success of the project, on site security and the security of the movement of goods will be provided by an internationally accredited private security company.
The status of PIFZ as a free zone will not be affected by the Palestinian laws related to import and export activities.
-JOINT DECLARATION OF TURKEY AND ISRAEL-
Together with the MoU signed between Turkey and Palestine, a joint declaration of Turkey and Israel signed on January 5th was published in the Official Gazette today.
"The foreign ministers of Israel and Turkey met in Jerusalem to discuss possible arrangements between the two countries in connection with the construction and management of the industrial zone formally known as Erez Industrial Zone, by a Turkish management company" said the declaration.
"Israel and Turkey wish to contribute to the economic development and prosperity of the Palestinian population in the Gaza Strip. In this context, they welcome the Turkish commitment to reinforce its assistance in promoting prosperity and stability in the region" stated the declaration.
Both sides expressed their high value and welcome for the Turkish experience and know-how concerning the establishment of industrial parks as well as the adaptation of global best practices for their management.