Ramallah: The Palestine Trade Center (PalTrade) Wednesday launched the EU4Trade Project to enhance Palestinian exports and stimulate sustainable economic growth.
According to Palestine News and Information Agency - WAFA, the EU4Trade project is a three-year initiative funded by a direct grant of over £3.3 million from the European Union (EU). The project aims to unleash Palestine's export potential and promote economic growth by strengthening the competitiveness of Palestinian Small and Medium Enterprises (SMEs) in international markets, with a particular focus on EU countries.
The launching ceremony, held in the occupied West Bank city of Ramallah, was attended by various dignitaries including Minister of National Economy Mohammad Alamour, Minister of Industry Arafat Asfour, the EU Representative to the West Bank and Gaza Strip Alexandre Stutzmann, and Head of Cooperation at the EU Representative Office Ibrahim Laafia. Also present were Chairman of the Board of Directors of PalTrade Ibrahim Barham, PalTrade Chief Executive Officer Ruwa Jabr, along with businessmen, exporters, investors, and representatives of SMEs.
Minister of National Economy Alamour stated that the project reflects the joint effort by the State of Palestine and the EU to support the Palestinian economy and enhance the competitiveness of the private sector. He emphasized the importance of tapping into new markets and facilitating exporting procedures to ensure SMEs can expand, especially given the substantial economic challenges faced by Palestine.
Minister of Industry Asfour highlighted that EU4Trade would help open new markets in the EU for many Palestinian companies by aligning them with EU exporting laws and requirements.
Chairman of PalTrade's Board of Directors Barham remarked that EU4Trade signifies a crucial step in Palestinian-European cooperation, setting the stage for significant advancements in the Palestinian exporting sector and contributing to a sustainable economy.
EU Representative Stutzmann noted that the successful launch of EU4Trade amidst challenges underscores the EU's commitment to its vision of a two-state solution. He assured that the EU would continue to play its role in improving the economic situation and broadening opportunities for the Palestinian private sector, with a focus on entrepreneurship.
