Ramallah – His Excellency Mr. Azzam Shawwa, the Governor of Palestine Monetary Authority, met today in Ramallah with Stephen McNeil, the Premier of Nova Scotia Canadian Province, and delegates, during a reception organized by the Canadian Representative Office. Palestinian businesspeople and Palestine Monetary Authority directors attended the reception.
Mr. Shawwa briefed the Premier of Nova Scotia, in a welcome speech, about the efforts of Palestine Monetary Authority in developing the work of the Palestinian banking sector and safeguarding it and ensuring financial stability through implementing international banking standards and keeping abreast of the latest banking developments. Mr. Shawwa also briefed Mr. McNeil about the future plans of Palestine Monetary Authority.
Mr. Shawwa briefly addressed the most prominent internal and external challenges that faced the Palestinian economy in general and the trade sector in particular including the complex political situation, irregularity of provision of support from donor countries, lack of control over large part of water and natural resources in Area C of the West Bank and border crossings, the need for accessing international markets, and enhancing productivity and competitiveness.
Mr. Shawwa said he hoped to further the bilateral Palestinian-Canadian relations to develop the banking and economic sectors.
Mr. McNeil praised the noticeable development achieved by Palestine Monetary Authority and the Palestinian banking sector. He said Canada was ready to further joint cooperation with Palestine Monetary Authority to ensure Palestinian financial and economic development.