3. The Parties may agree to submit to arbitration disputes relating to the transitional period which cannot be settled by arbitration. To that end, the Parties shall establish, by mutual agreement of both Parties, an Arbitration Committee. The contract was signed on September 15, 2020. The treaty recognizes the sovereignty of each state, obliges the two states to exchange ambassadors and conclude bilateral agreements on various issues, including visa agreements, and enters into force upon ratification.  The agreement was ratified by the Israeli government on October 12 and ratified by the Knesset on October 15. Tariff plans shall be drawn up by a customs committee composed of an equal number of representatives of each State and shall be submitted to the Joint Economic Committee for approval by a majority of votes. In the event of disagreement within the Collective Bargaining Committee, the Joint Economic Consultative Council shall decide on the points of divergence. If the Tariff Commission does not establish a timetable by a date to be determined, the Joint Economic Committee shall draw up the tariff plan.
It is understood that the interim arrangements are an integral part of the comprehensive peace process and that the permanent status negotiations will lead to the implementation of Security Council resolutions 242 and 338. However, the Oslo Accords left many key issues unresolved until final status negotiations were concluded, including borders, security, refugees and Jerusalem, among others. These agreements did not create an effective way to neutralize the types of crises that occurred during the implementation of Oslo, including waves of terror and violence. Many intelligent and committed people have spent their lives searching for the “ultimate deal,” but what is needed, a comprehensive agreement has been elusive, and waves of terror and violence have significantly delayed the process. Only a comprehensive agreement, with a solid economic plan for the Palestinians and others, has the capacity to bring lasting peace to the parties. The United States recognizes the heightened sensitivity that surrounds Jerusalem, a city that means so much to so many people. Jerusalem is a unique city in the history of civilization. No other place on earth can attach importance to three great religions. Every day, Jews pray at the Western Wall, Muslims bow in prayer in the Al-Aqsa Mosque, and Christians pray in the Church of the Holy Sepulchre. Palestinian micro, small and medium-sized enterprises (MSMEs), which today employ a large part of the Palestinian workforce, are crucial to the success of the Palestinian economy. A thriving domestic business sector in the West Bank and Gaza Strip requires access to credit and reforms of fundamental laws, rules, policies and regulations that create barriers to business and stagnate private sector growth.
From peace to prosperity, all Palestinians – not just the rich and most connected – will share the benefits of peace. A robust local economic sector will create well-paying, high-quality jobs for the Palestinian working class and is ultimately the most important engine of prosperity. To foster a job-creating environment for the working class, this project will encourage Palestinians to create a new business framework that encompasses all the key elements of a thriving business sector and fosters the growth of small and medium-sized enterprises. This program will support loans to small businesses in the West Bank and Gaza Strip to ensure that these businesses have access to the capital they need to reinvest in their operations and in the growth of their businesses. Supporting small and medium-sized enterprises will stimulate the growth of local businesses that can serve as partners for large international companies wishing to do business or make foreign direct investments. Prioritizing the creation of an institutionalized policy framework conducive to growth will end the vicious circle of poverty afflicting the Palestinian people and pave the way for a transformation towards sustainable development and prosperity. After the war in June 1967, the UN Security Council adopted Resolution 242, which called on Israel to withdraw from the “territories” it had occupied during the war. At that time, the United Nations had two working languages, English and French. The French version of the same resolution specified “the territories,” which led to major disputes over whether that meant all or part of the territories occupied by Israel in 1967. The resolution called for a fair solution to the refugee problem.
Throughout history, Jerusalem has been the subject of wars and conquests. It has been used to divide people and provoke conflict by those with bad intentions. But it doesn`t have to be that way. The lack of affordable electricity has profound implications for the well-being of the Palestinian people, especially in Gaza. In the short term, this project will aim to quickly end the electricity crisis in Gaza and ensure that Palestinians in Gaza receive at least 16 hours of electricity per day within a year of the project`s implementation. This will be achieved through investments in grid expansion, Gaza`s power plant and new renewable energy plants. Additional investments in energy infrastructure will ensure Gaza`s continued access to electricity within five years and reduce electricity costs in the West Bank by increasing domestic supply and improving grid infrastructure. Finally, this project will provide technical assistance to increase the capacity of Palestinian public services to manage and supply this sector. Hezbollah leader Hassan Nasrallah called the deal a betrayal of Islam, Arabism, Jerusalem and the Palestinians. .