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Last update - 12:37 16/04/2008 Blair urges foreign investment in Palestinian economy By Reuters Tags: Tony Blair, PA, Israel Middle East envoy Tony Blair urged investors on Tuesday to plough money into the Palestinian economy, which he said offered opportunities despite Israeli restrictions on movement. The Palestinian government and the private sector will host a three-day conference in Bethlehem from May 21 offering more than $1 billion worth of projects to foreign investors. The conference, part of efforts to boost the Palestinian economy as Palestinians take part in U.S.-backed peace talks with Israel, follows a donor conference that in December attracted $7.7 billion in aid pledges over the next three years. Advertisement In Abu Dhabi to support the meeting, the former British prime minister said he was working to get restrictions on movement that have squeezed the Palestinian economy, removed. "The title of the conference is: you can do business in Palestine... It is true that the weight of the occupation is very heavy. It is true also that... we hope we can in the coming months start lifting the restrictions on access," Blair said. "It is true that all these political challenges make a difference to the Palestinian economy. It is also true therefore that if these challenges are met the possibilities are even greater... In Palestine today in the West Bank there are real opportunities for business." Blair said some projects already had the green light and tourism was up in Bethlehem versus a year ago, when he first became envoy for the Quartet of Middle East peace brokers - the United States, European Union, Russia and the United Nations. But tourism levels are still 60-70 percent of their levels before the outbreak of the Palestinian uprising in 2000. Palestinian Prime Minister Salam Fayyad has said the Palestinian economy could grow over 10 percent in the next three years if Israel removes travel restrictions in the West Bank, but projects a more modest 6 percent growth. With Israel in control of Palestinian borders, it was not clear what assurances the Palestinian government could offer investors. Israel has built up a network of hundreds of checkpoints and roadblocks in the West Bank, home to 2.5 million Palestinians, which it says stop suicide bombers reaching its cities. Israel said this month it had removed 50 roadblocks as part of promises made to U.S. Secretary of State Condoleezza Rice. Hamas Islamists, who seized the Gaza Strip from Palestinian President Mahmoud Abbas' secular Fatah forces in June and fire rockets at Israel, have also seen Israel tighten restrictions on the passage of people and goods to and from the territory. Hassan Abu Libdeh, Palestine Investment Conference CEO, said that 25 percent of the projects on offer were in Gaza, though Abbas sacked the Hamas-led cabinet after it took over the area. The cash-strapped government has so far received $500 million of the total funds pledged at the December summit. The United States relaunched the stalled peace process at a conference last November. Blair's role has been to rebuild Palestinian institutions and get projects off the ground to show Palestinians that the peace process will reap dividends. "What the Palestinian people need is support now. Support, of course politically, to get a just settlement for Palestine, but support also in how they build their state and secondly how they build their economy," he said Bookmark to del.icio.us   Say what you want French court: Claim that Al-Dura tape doctored isn`t libelous. Peace in our time Olmert: Peace talks with Syria are a 'national duty'.   1.   Blair 13:39  |  Natallie Durson 16/04/08   2.   HOW much of his own money is he investing ? 15:13  |  PETER SM 16/04/08   3.   Invest in Palis 16:55  |  sabra 16/04/08   4.   Blair and Natalie Durson 16:57  |  Sabra 16/04/08   5.   The Problem 14:41  |  Mosche 19/04/08   6.   DONT GIVE THEM ONE RED CENT 22:07  |  Dale 23/05/08

Read & React Bradley Burston: The Palestinians' time is running out Responses: 227 West backs Lebanese gov't capitulation to Hezbollah Responses: 111 Obama promises 'unshakable commitment' to Israel if elected Responses: 121 Iran reportedly irate over Israel-Syria peace talks Responses: 92 McCain rejects pastor's support after 'God sent Hitler' jibe Responses: 70 Rosner's Domain Rosner's Guests: can "decisive victory" against guerilla achieved? Blame the Israel Lobby for Clinton's loss? (WTR) Poll: Peace between Israel & Syria? Should American Jews Embrace Living Double Lives? Why Obama needs Florida Jews? (WTR) More Headlines 20:10 Iran reportedly irate over Israel-Syria peace talks 16:55 Palestinians: IDF kills 5 in Gaza; soldier hurt by anti-tank missile 21:35 Israeli warplanes come close to shooting down Tony Blair's plane 12:52 Olmert questioned for second time; Talansky to testify Tuesday 20:57 Syria hesitant to let IAEA inspect alleged nuke site hit by IAF 21:44 Report: Singer Amy Winehouse to undergo drug rehab in Israel 22:08 'Israeli Big Lebowski' captures top student prize at Cannes 16:32 Amid talks, Golan gets first mall, and development booms 20:11 Secret Holocaust hero has reputation restored in new books, film 20:10 Olmert: Not sure how long I'll be PM, but won't give up peace talks 20:12 Israeli settlement expansion can't be justified, French FM says 09:14 McCain rejects pastor's support after 'God sent Hitler' comment Previous Editions Select Day 22 may 21 may 20 may 19 may 18 may 16 may 15 may 14 may 13 may 12 may 11 may 09 may

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