GCC and Ukraine Sign Political, Economic, Security MoU

President Petro Poroshenko of the Republic of Ukraine and GCC Secretary-General Abdullatif bin Rashid al-Zayani (SPA)
President Petro Poroshenko of the Republic of Ukraine and GCC Secretary-General Abdullatif bin Rashid al-Zayani (SPA)
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GCC and Ukraine Sign Political, Economic, Security MoU

President Petro Poroshenko of the Republic of Ukraine and GCC Secretary-General Abdullatif bin Rashid al-Zayani (SPA)
President Petro Poroshenko of the Republic of Ukraine and GCC Secretary-General Abdullatif bin Rashid al-Zayani (SPA)

Gulf Cooperation Council (GCC) and Ukraine signed a memorandum of understanding (MoU) in the fields of politics, economy, security, culture, as well as education and tourism in the presence of Ukrainian President Petro Poroshenko, the General Secretariat of GCC and the Ukrainian Ministry of Foreign Affairs.

The MoU was co-signed by GCC Secretary-General Abdullatif al-Zayani and Ukrainian Minister of Foreign Affairs Pavlo Klimkin.

The MoU aims to hold consultations between the two sides in order to explore fields of cooperation and dialogue.

Assistant Secretary General of GCC for Political Affairs and Negotiations Abdulaziz al-Owaisheq reiterated that the memorandum deals with political negotiation and countering terrorism and its funding. He stated that the MoU has three main fields; security and political cooperation, economic cooperation, and exchange between Gulf and Ukrainian people through tourism, education and culture.

Speaking to Asharq Al-Awsat, Owaisheq stated that the MoU will be the beginning of a series of negotiations dealing with politics, security, and countering terrorism, then it will deal with trade, investment, energy, education, health and tourism.

The Assistant Secretary-General stated that terrorism is an important issue for both the Gulf and Ukraine and there are three fields of cooperation between the two: security cooperation between security forces: Gulf police in UAE, security forces of GCC and their counterparts in Ukraine. Second, GCC and Ukraine want to counter terrorism funding through a committee of the GCC, according to Owaisheq. He also stated that GCC wants to fight terrorist rhetoric and ideologies and that GCC has specialized centers in Saudi Arabia and UAE which will cooperate with their peers in Ukraine for that purpose.

Owaisheq also explained that the MoU stipulates that both sides should hold meetings and negotiations to further explore means of cooperation and dialogue and suggest a suitable mechanism to achieve that. In addition, GCC and Ukraine agreed to hold an annual meeting, or whenever needed on the sidelines of UN’s General Assembly, and to task a group of experts with discussing any issues both parties agree on.



Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
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Washington Urges Israel to Extend Cooperation with Palestinian Banks

A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)
A West Bank Jewish settlement is seen in the background, while a protestor waves a Palestinian flag during a protest against Israel's separation barrier in the West Bank village of Bilin in 2012. (AP)

The United States on Thursday called on Israel to extend its cooperation with Palestinian banks for another year, to avoid blocking vital transactions in the occupied West Bank.

"I am glad that Israel has allowed its banks to continue cooperating with Palestinian banks, but I remain convinced that a one-year extension of the waiver to facilitate this cooperation is needed," US Treasury Secretary Janet Yellen said Thursday, on the sidelines of a meeting of G20 finance ministers in Rio de Janeiro.

In May, Israeli Finance Minister Bezalel Smotrich threatened to cut off a vital banking channel between Israel and the West Bank in response to three European countries recognizing the State of Palestine.

On June 30, however, Smotrich extended a waiver that allows cooperation between Israel's banking system and Palestinian banks in the occupied West Bank for four months, according to Israeli media, according to AFP.

The Times of Israel newspaper reported that the decision on the waiver was made at a cabinet meeting in a "move that saw Israel legalize several West Bank settlement outposts."

The waiver was due to expire at the end of June, and the extension permitted Israeli banks to process payments for salaries and services to the Palestinian Authority in shekels, averting a blow to a Palestinian economy already devastated by the war in Gaza.

The Israeli threat raised serious concerns in the United States, which said at the time it feared "a humanitarian crisis" if banking ties were cut.

According to Washington, these banking channels are key to nearly $8 billion of imports from Israel to the West Bank, including electricity, water, fuel and food.