The Israel-PLO economic talks in Paris, started in mid-November 1993, were reaching a critical stage. Slow progress was being made on issues such as banking, currency, foreign exchange control, customs duties, value added tax and income tax. In the following communique the parties expressed the hope that another round of talks will be required before the conclusion of the agreement. The agreement was finally signed on 29 April 1994.
Having in mind the importance of finalizing and reaching an agreement on the economic policies governing the relationship between Israel and the Palestinian Authority, the chairmen of the two delegations, Mr. Avraham Shochat and Mr. Ahmad Quri ("Abu Ala'), stated that progress has characterized the recent round of negotiations.
Both chairmen have strongly supported their respective delegations and emphasized the importance of reaching an agreement on the economic relations between Israel and the Palestinian Authority.
The chairmen added that, even though there are some significant differences to be resolved, they believe that the next meeting, which will take place next week in Paris, will be the concluding round.
Several issues have been addressed in this round, including, among others, agriculture, labor, industry, banking, insurance, direct and indirect taxes, and general trade relations. The two delegations are in the process of finalizing an agreement on most of these issues.
The two sides emphasized the positive and cooperative atmosphere in the negotiations during the last round, and reiterated the immediate need to begin implementing the Declaration of Principles, and to improve the conditions on the ground.