The trade balance between Israel and West Bank amounted to NIS 19 billion in 2008. The Allenby Bridge services some 1.5 million people a year
At a joint Israeli-Palestinian business conference held last week at Allenby Bridge, Israel's Customs Directorate revealed that trade balance between Israel and West Bank amounted to NIS 19 billion (roughly $4.8 billion) in 2008.
The Allenby Bridge is the main international border crossing available to Palestinians from the West Bank. Located five km east of Jericho, the bridge spans the ancient River Jordan
Funded by the United States Agency for International Development (USAID), the trade meeting – the second of its kind – brought together Israeli and Palestinian businessmen who have bilateral economic interest.
The conference presented the Israeli and Palestinian businessmen with a review of the trading activities between Israel and the West Bank, as well as with data on commercial and passenger traffic going through Allenby Bridge.
The bilateral trade report, complied by the Customs Directorate at the Israel Tax Authority (ITA), shows that NIS 14.6 billion (US$3.84B) in revenues stemmed from local trade and NIS 4.6 billion (US$1.21B) were the result of import and export ventures. The Tax Authority noted that the first half of 2009 indicated the positive commerce trend was ongoing. The Allenby Bridge services some 1.5 million people a year.
Mr. Doron Arbelli the head of Israel's Customs Directorate noted that the conference serves as an outstanding opportunity to create cooperation andbetter understanding with the Palestinian business community and help the growing Palestinian economy.