Sixty leading businessmen from Israel and the Palestinian Authority have announced the establishment of a joint business council.
The council will be headed by Cellcom CEO Amos Shapira and Palestinian businessman Walid Najjab of the PalTel communications company.
The announcement was made over the weekend in a joint press conference held at the World Economic Forum on the Middle East at Jordan's Dead Sea resort.
"The idea was born due to the difficult political situation, but we have no plans or pretensions to deal with diplomatic processes," Shapira told Yedioth Ahronoth on Sunday.
The Palestinian chairman of the council, Walid Najib, said, "We will do what we know how to do best: Take advantage of possibilities on the business and economic level."