Tired of waiting for a political solution, Israeli and Palestinian businessmen are taking matters into their own hands, launching a court to handle business disputes properly.
Secretary of State John Kerry has put Palestinian economic growth high on the agenda with his recent shuttle diplomacy to restart peace talks, but a group of Israeli and Palestinian business leaders are a couple steps ahead of him.
The last few years, amid a dearth of political progress, they have been working toward the establishment of an arbitration court, the first of its kind, to resolve cross-border-trade business disputes between Israelis and Palestinians that otherwise have no realistic address for adjudication.
Economic collaboration between Israelis and Palestinians has been hobbled by the lack of a neutral forum for settling disagreements between Israeli and Palestinian businessmen when they arise. Palestinians and Israelis face restricted access to each other’s territory and have little trust in courts lying across the border. Without any legal recourse for problems like a bounced check, transactions become riskier and less attractive, cooling commercial ties.
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