 Good afternoon, ladies and gentlemen. I don't know if you can hear me Thank you so much Samir Good afternoon and warm welcome to all of you to this session and the annual meeting of the world economic forum The session is entitled for the sake of peace jump-starting the Palestinian economy. I am Irak Dushek I'm managing director at the world economic forum I'd like to first Introduce the people that are here with me and then I'd like to give you a little bit of context on The title what we mean by it and then we should have a really I hope Frank discussion about how we can make some progress on on the issue at hand. So first let me introduce My friends here on the stage. Let me start here. Myle Gavet your chief executive officer of tech stars If you can give her a warm welcome Hashem Shawa chairman of Bank of Palestine Yossi Vardy chairman of international technology so the context I Always say that about at least 80% if not more of all the sessions here at the annual meeting in Davos are really stemming From ongoing work we do with business leaders civil society representatives administrators Across all the issues that you see here. It's really important that that I share with you that there is a lot of work behind that now this panel I think is the embodiment of that because I Wanted you to know and those who are watching us online that the world economic forum has been Since the 90s heavily involved in how we can support dialogue and how we can support a Pathway to the two-state solution between the Israelis and the Palestinians. I just wanted to be very clear about that. We have been Providing our platform here in Davos. We've been providing our platform elsewhere to try our best It's a very complicated issue, but try our best now part of that overall framework is an initiative Breaking the impasse initiative a special dialogue that we are holding Between and among business leaders from the Palestinian society from the Israeli society and they're really working together We got together 2012 and We have been really in constant touch Looking at what this community can do now when the peace process was Let's say in on the front burner and you may remember the years of secretary Kerry there was a huge Momentum and this community was very visible and active in support of that official track But what I think is even more interesting that as you all know now we have a lot of headwinds Unfortunately on that front, but that The the business leaders that are some of them are here. Some of them are at home But that they kept working together So we're really very proud of that because the forum has been providing just a platform We've been in touch, but it's really the work of Yossi Hashem and and all our friends in both communities that are a testament to me that This kind of civic action if you will or civic momentum still Has some strength and has some has some momentum in it despite the fact that On the governmental front on the on the diplomats in diplomatic front the headwinds are quite strong So I just wanted to provide you with that context. So you don't think this is just a random session That we are throwing together here about about the Palestinian economy now What is important also and sorry I will then finish with that thought is that Why we say for the sake of peace jump-starting the Palestinian economy so obviously those of you who follow the The diplomatic dialogue, you know that it's quite a sensitive topic You cannot it's it's not that economic cooperation is a substitute for peace So I just wanted to make sure you know that we're not naive about that but it's really important that that you Don't ignore the realities on the ground. It's just because There isn't Peace right now or or or a peace agreement It it it if you ignore the realities on the ground and you don't invest in the Palestinian economy and Palestinian society You're actually undermining the prospects for peace in the future. You will have a more fragile society that is that that that has less growth more unemployment and While this is then the ambition for this session will be talking about that I think Hashem You will cover the state of the Palestinian economy and let's face it. We have seen headwinds there too And of course COVID and also some of the repercussions Around food prices and energy prices also stemming from the war in Europe Has have not helped so I just again just for the sake of context I wanted to share that with you and now I'd like to go To Yossi Vardy if I can start with you because you were at the At the inception you actually were one of the co-initiators of this whole initiative Back in Istanbul when we met for the first time. So I Would like to ask you Why is it that you are still in it frankly because it's it's it's been such a long time and We haven't really succeeded yet. And so Why are you in it? You want the true answer or the formal answer? The true answer, you know, I'm I'm together with Stalma already 59 years, but I'm still under evaluation So I want to impress her but I have Tell my I'm sorry, but The The reason it's becoming a little personal, but I will tell you when I was in the government many years ago we had the The peace agreement with with Egypt and I was responsible to the to the oil part of it And I can tell you the day that Sadat Came to the Israeli Parliament I still can feel at this Minute The goosebump, you know like like when you are witnessing that a piece is happening I don't think that there is anything which is more exciting More holy More optimistic You think about the fact that mothers will not have to shed tears on their killed sons. It's really Something extraordinary, you know, and I was lucky to Participate in the in the Egyptian piece and then also in the Jordanian piece and they even Spend good there two months in white plantation trying to negotiate peace with the Palestinian and then it takes you to all kinds of thought, you know on meaning meaning of many things that I don't want to Share I think this is simply if you want to walk for a cause. I don't I cannot think about any cause which is more Correct or more important or more moral or Impact the life of many people more than than being engaged in this thing so this is And also, you know because of the liquid the little Green green probability, you know, right now there's the political situation between us and the Palestinian is not in its peak. I would say Carefully but even if there is 1% of 1% of 1% of chance of arriving to this I think that any any just person have to work on it Thank you Hashem the same question to you Why are you? Part of this initiative and continue to be and and and actually leading it But also then I hinted would be good to have a Mapping of the of where we are with the Palestinian economy. I mentioned some of the headwinds. So over to you I'm in it because I just like I love this guy, you know, he's how can you just not be in something where you have someone? Go on, go on No, but really just quickly first and foremost, thank you, Merrick and thank you the weft For just being a marathon And I know I know professor Schwab has been stuck at this passionately personally For decades and and for him and for you. I know this this is We know this is special and Frankly putting Palestine Israel on the agenda amongst all the Things you have on the agenda, which you know from climate and our planet to the whole host of global issues We really appreciate that you keep you keep putting Palestine on on your on your agenda and and and joining the call for action for you know like-minded partners and friends that That that like you said you'll see want to do something just impactful Transformative for the region and not just for the region for the world. I mean the Israeli Palestinian Issue conflict occupation so many people call it different things The big elephant in the room in the world in the universe. It's it's a big deal, right? And and we all want to You know one day you all everyone asked themselves, you know what what You know when you leave this world, what do you want to look back on and say what did I do and What did we do and and I think we owe it to our children and our future generations that we we all work together At this and there will be always people that want to undermine and and and Put hurdles and and try to you know come up with narratives that You know that that totally tried to dismantle or disrupt what the efforts were trying to do or call us You know what depending on which side you're on? Different names, but we're sticking at it and we see the value And like you said, Merrick. I'm really glad you highlighted specifically that This is no substitute for political horizon and political process and justice and freedom and an end to this this longest historic you know occupation and and and to try to Make sure that you know you highlighted that it's not a substitute and and that's really important because While we're against you know economic peace and trading, you know trading off with with rights and freedom You know where we're not against a real genuine impactful economic development initiative, you know But ultimately we want freedom. We want rights and I think the call for action now is so timely because And and talking about initiatives that can create that and sustain resilience and strengthen and scale up resilience and keep people hopeful and create jobs and and and Prosperity agenda is important because you know at the end of the day the alternative is dark is is bleak it's not in anyone's interest and and So, you know, that's what the Bank of Palestine and all our partners and I have to recognize We cannot do anything without partners from partners on our Israeli colleagues and friends to the Weff You know to we have I want to recognize also Dr. Muhammad Mustafa chairman of the PIF our sovereign wealth fund IFCs the development organizations foreign investors in this room that have that believe in our story and Despite all the headwinds and all the negativity still invest, you know, we're typically Palestine has been a charity case lens, you know mainly donor and and Funding you know to sport mainly humanitarian issues, but I want that's the perception But I want you to realize that actually for every dollar of donor aid The Palestine has received there's been about two and a half to three dollars of investment by private sector Whether it's Palestinian private sector, don't forget. There are five million Palestinians on the ground That are still there day in day out putting, you know taking their kids to school educating their kids and putting their Capital and their wealth and their generation from family generation to generation putting Their investment into their businesses from the small to the big and that is is not going to end and That gives us hope and that's something that the bank with its partners has been scaling up on all levels Thank you so much Hashim If I could go to you mile, so we now started talking about the Palestinian economy Hashem you said that there is this shift that may be before it was more around Eight, but I know you've been really on the front foot and and you will talk about it I think more about some of the initiatives that we're doing with the initiative with with some of the projects we have on the ground but Entrepreneurship startups are part of that being on the front foot proactive on the economy Text stars that you had mile is known in the world around the world that you really Helping create these ecosystems and boost them So what are the signals you're receiving when you talk about Palestinian entrepreneurs or with Palestinian entrepreneurs? What are the signals you are you are you are getting? Yeah, so first things for Inviting us on this stage. I have to have to disclose to people You see was one of my first mentor when I was a young entrepreneur a long long long time ago and Hashem and I we met what six months ago And in Palestine and that was a trip that I still remember and and That helped me understand and me and my organization helped me understand better The potential that there is in the region. So we are the largest precede investor in the world We have three and a half thousand investment in our portfolio Wow, and and the way we do it is by developing ecosystem We started our business thinking that Opportunities so talent was distributed equally, but opportunity was not and that as investors We're not a non-profit. This is not a philanthropic conversation for us as an investor We believe that there are so many underserved Overlooked founders all around the world people who don't even know that they could be amazing entrepreneurs because no one ever came To them to tell them you have what it takes and there is an ecosystem to help you and We see our job is to go and find these diamonds in the rough and help them become VC back But we really we are the deal flow to the VC industry this year. We're gonna make 800 precede investments And and then we go to the VC and we're like look at these amazing entrepreneurs that you would never have Talked about and so talking about Palestine finally going back to your question We're very good at spotting signals like again, we make a living out of it We will look at regions and we're like, huh, no one is doing really enough there Maybe we should go and look at it and for us Palestine has been Increasingly on the map because there is a high level of education There is a young population Whether we like it or not entrepreneurs tend to be on the young side that we do have like us exactly like us So we do have initiatives for older entrepreneurs as well We also see an ecosystem that is being developed Bank of Palestine is one of the main stakeholders in that and and that's important Ecosystem doesn't you can't have just entrepreneurs You need to have the investors you need to have government You need to have infrastructure being put in place and something we're seeing all these signals and then there is what usually makes a huge difference which is the necessity to be an entrepreneur and some of the best again, we're an investment business some of the best investments we've made We're in entrepreneurs in businesses that had experience very challenging situation very difficult ecosystem very complex environment and took from that strengths and a resilience which is Really difficult to match in more developed developed economy and so we're seeing all of that and we're like, okay Maybe we need to need to do something Thank you You'll see and I go back to you. I said we will share a little more on What you've been doing what we've been doing on the ground. Can you give some examples? What this community has been focused on over the past years? Okay, I would like to To start, you know how what are the two ways to avoid the questions if you are being interviewed One is to say I will get to it in a minute But before that I want to say something and then you go, you know And the other one is you tell the interviewer. It's a good question. This is not a question the real question is So which one I give you to the choice? I will answer it. I would like you to answer the Before that I want I want to say To say one thing and this is you allow me please to talk two minutes about the role of The forum sure because it's very important to understand the dynamic of Such gathering this night the dynamic of the gathering of the Israelis and Palestinian we didn't start by By sitting together and singing kumbaya because we we don't know the words even But nevertheless and we started with mutual suspicion We started with big crisis took us took us two or three years until we began to feel comfortable until each one trusted the good intention of the other of The of the other side while we were doing it these people of the The forum provided a neutral and prestigious A Place to meet and not only that you know both the Israelis and the Palestinians We were looked at like are you going really to talk with the Palestinians? What kind of menu are what is It's not the right thing to do maybe and the same thing with the Palestinians the fact that it's done under This framework, which is not a political framework. This is a Collab this is probably the one of the best Platforms in the world for people to call to collaborate people from the industry industry government government to government So the framework I think held the whole thing together For for a long time add to eat the regional meetings Which is high-time miracle that you will consider redoing them again Where we were able to meet in the region really provided a Good a good and very important framework. I am nudging Mirac because of our Our experience and I will talk in a minute in a minute. I will get to your question According according the Council of Foreign Relations. I think there are today 27 International conflicts Conflict defined where somebody is killing somebody else because political conflicts are close to 100 and Today there are 27 some of you know some of them and some some you don't know And I'm telling the forum all the time that they should create 27 initiatives like this Because one of the most important One of the most important output is the feeling of Trust and also the feeling of the level of compassion, which is Rising up. I have here my good friend Dan Wilensky Dan Wilensky brought to Israel. I don't know how many companies you bought from America several how many five Five how many of them went bankrupt? One and one of them got to what size there what is the size of a pipeline material today in Israel? And and he decided he took it as a personal crusade to bring a company to To Palestine he goes to the to the to raise fund the flu to the To Abu Dhabi he drive everybody crazy that we will give him names of potential Investors and and this is really wonderful wonderful to see this thing and the framework Resulted it now you asked the question, which I'm trying to avoid, you know, okay Where is the beef? You know, whatever other than this wonderful? Yeah Well, what what did you got in there on the on the ground? So I can't tell you the following first of all regarding the two The two states solution we advance very much. I think it's a matter of weeks. If not an hour hours We didn't go before the end of the month. Yes before the end of the month, but we don't say which month Which year unfortunately there is not much we can we can show and In this case, it's very easy for me to to push the blame and At the end of the day what we said when we created the thing is that we will give the leaders comfort if they're going To to announce it because announcing peace. I meant I spoke about how beautiful is the peace but People are not not readily accepting it, you know, Mr. Robin trying to make peace Was killed so that trying to make peace Was was killed and this is we thought that we will provide the leaders With the comfort that the business community is supporting them. So at least they will make a little check mark Somewhere on the world on the way and we will also try to to walk on it But we are now how many years Muhammad how many years you are now under our benevolent occupation No, I think more from 67. Who knows our mathematics 2020 No, it's more than 50 He's giving you a discount. You know your investors should be a little bit 50 how much 55 No, not 75. This is our hope, you know, but we are not there yet So 55 years time. Yeah. Yeah, we are laughing but it's not a laughing matter. You know, you really we need to cry So 55 we are in this situation. We don't see Where where it goes and and this is this is a big problem and I don't know how it's going to be To be resolved in the meantime. We cut there like somebody told me, you know, if you are cleaning Toilets at the end you get used to the To the smell so we know we got used to the smell and it's not Not very good. Okay, you don't you don't agree with what I'm saying You agree so this we can we can only to deplore and Of course, you know deep in our arts. We always have the feeling that We could have done more and maybe we should have done more so I don't have much to To develop on this frontier. Yeah, however, it's too long. I should scat. That was a good like one minute to wrap up Thank you. Thank you. You'll see I think no, no, but let me say at least Okay, we are calm one minute. Okay. What we accomplished on the ground. We started six walking Groups that were able to do certain things. I think some of them are very nice. We help You know, it's not only our work many many people in Israel are involved but all together We have now a community of 2,200 Young Palestinians which are working for the best roster of companies in the world like HP and NVIDIA and really the top of the top some of them are doing it from Gaza and this is really a Ray a big ray of hope and the momentum is there. It's now Growing where is your own your own Huckley? Where are you raise your hand? He's doing the work in the ground. He told me like five months ago. We had two thousand now We have twenty two hundred there are one hundred forty five Israeli companies Which are employing? It's going the number growing all the time you have You have Palestinian companies doing outsource work for international companies if you have Ralph Lauren Shirt that you buy online The service which are doing the e-commerce allocated in Nablus, which is mind-boggling So we were able to help to resolve some issues with the Israeli administration because when we go With the Palestinian to the administration they listen In a different way we have here among us the former governor of the Bank of Israel and when neither cheese Rolling your sleeves and go and And to talk with some people to resolve some problems on the issue we were able to help in securing their budget, I think for for the For the for for your health issues, so we are we are helpful we create some things It's not doesn't resolve the problems, but it creates Trust and it creates momentum and it creates positive vibe so if I have to give myself a Grade on our accomplish so far I would say maybe seven maybe a little bit Less than seven it's not ten, but it's also not zero. I don't know he will give me three I think but who cares he's a Palestinian so we don't care Thank you. I see Hashem Because I know you also You have a VC entity So tell us a little more so we can understand the Palestinian startup ecosystem entrepreneur ecosystem What is the landscape? Are you the only VC? Are there more? What kind of companies do we have in Palestine? So I'll answer that question and I'll talk about the other stuff. Okay So Look Bank of Palestine since ever has been all about inclusive sustainable development, right? And so we started off in 1960 in Gaza essentially a privately small Agricultural bank focusing on the real stuff Farming and helping farmers with loans in Gaza, you know Gaza up to Tel Aviv or Yaffa was all Orange groves back in those days leave Tel Aviv aside But but we've in that spirit I mean the bank is still very much a real economy bank and really obsessed with Long-term inclusive sustainable growth. So and we take a holistic approach. So we first of all, you know, I'd like to recognize my better half my wife Bernie who Helped me really tremendously as we went back from living in Switzerland in 2007 to go back to Palestine Which was very as you can imagine quite a Quite a shocking contrast from Geneva to Gaza, you know quite two G's but different different G's And 2007 was a tough time, right? I'm not going to go into the details, but tough times But one of the first things I did because after 15 years of working for the likes of Citigroup and HSBC and Working with the biggest banks in the world In in different sectors and geographies You know, I really use that Knowledge and that support and partnerships my amazing team at the bank and the board to really push through Transformational projects and programs The first was to become and I made that commitment at your weft forum in the Dead Sea Do you remember to be gender balanced by 2020? You remember we did that announcement and The bank I'm proud to say with with a year and a half delay because of COVID and we like to blame COVID a lot We became 50-50 at board level That's unheard of I mean that's unheard of in the banking industry, it's unheard of in our region We're the first bank in the entire MENA region to be gender balanced at board level and It's not just a quota. I mean we have like super top bankers and experts and technology, you know Minded and experienced women on our board So it's not all about just you know Plugging in the quota and finding some women in the corridor and putting them into the and and and we're now at total level where Bank level where at 40 44 percent Balance so we're a little bit, you know, we're trying to get there, but we're there at sea level. We're probably around 35 37% so we're getting there and in that lens I want to tell you that I think if more women are in policy-making decision-making impactful Jobs whether it's in government or private sector you can get transform transformational change and In that context, I'd like to say that that that way of structuring the bank, which is The biggest one of the biggest, you know powerhouses in the economy We make up 40% of GDP one of the biggest employers the biggest lender in the economy We've proven that you can do good you can be gender balanced You can make loads of profit and succeed and be more resilient even under a terrible Occupation that strips you from freedoms and by the way women suffer the worst from the occupation in terms of the You know the issues that women face under any military conflict. By the way, it's it's known They always suffer the worst Despite all that and like you said man, we we have some you know, you said the diamonds in the rough we have a lot of those and Women, I don't want to say, you know that there are a lot of diamonds that they're low-hanging fruit that that can really Transform not only our economy by including them into the economy by giving them access to finance Empowering them making them more involved in decision-making because then that gives you a balanced approach to to to running the business and Solving problems and we did that not only at the bank But then that led to you know other initiatives amber. Where are you amber? There you are amber. I'm there She's the part managing partner and basically brain and founder of the idea of setting up the first VC fund in Palestine So please just stand up and so everyone knows who you are Amber like ten years ago said Hashem. Why don't why doesn't the bank champion startups in Palestine? I said great idea. See good ideas come from women and so so So, yeah, we started, you know sponsoring hackathons and doing competitions and giving awards 12 years ago Then we realized there's a lot of diamonds in the rough here a lot of talent, you know And a lot of that talent is going to work in Israel. Let's call a spades way that there's you know We're living next to and with the startup nation is technology, you know tech Miracle, let's say and so there is that exposure. I would say that benefits, you know transfer of knowledge and exposure But we want to create opportunities in our economy. We want to empower Young entrepreneurs and startups in our economy week, you know, the occupation has cost the Palestinian economy Billions and billions a year. I mean, I think half of our GDP is evaporated just by restrictions from the occupation And Mackenzie did a study on if just simple restrictions were lifted by the Israelis on the Palestinian economy You could unleash, you know, double before, you know, our GDP could grow by 200% or more. So so back to the tech Efforts what we did was with the help of Yossi and our friends on the on the Israeli side You know learning from their experience, you know, and they have some serious experience and having those networks and those those doors that were opened and those Relationships that were built and that know-how as well coupled with our own money I mean, we didn't take Israeli money or investment. We this is like I said donor aid from the international community One dollar we Palestinians and foreign investors have put three dollars I mean, you know, and we leverage and we and so we raised amber the first fund like seven years ago Ibtikar Which means innovation fund in Arabic? 10 million dollar funds PIF was one of our lead Investors the bank was an anchor investor the IFC was you know, I remember Yusef you had to Go through hell to get the approvals in the system because back in those days You know it there wasn't it's it was the first VC fund. It was a small fund. There's no Back, there's no historical record. So he had to push through a lot of exceptions and this is my my ask to you all Palestine is for the brave. It is a Risk country. There's a lot of you know, but we've proven like with things like whether it's the bank and we're profitable. We give you know 15% return on equity high divinity Despite all the restrictions because of our innovation and our resilience and our strength and our capital strength and Trust by our customers and because of our gender balanced approach and inclusive approach to SMEs real economy But with with this tech startups the first fund was highly successful. We proved the model We're now closing a second fund seven years later We're doing another fund 30 million dollars. So three times bigger investing in Palestinians in Palestine, but Palestinians wherever they may be in the region and and We're attracting a lot of foreign investment into that and one last thing Incubation and acceleration. This is where you know, Mali. It was great. Thank you so much for coming and and you know Seeing is believing, you know When you come to our country and you see the reality on the ground You see the bad the good the ugly and you see the opportunities, right? And I think that's what you saw and so it's those kind of initiatives those partnerships, you know, we we built five Innovation hubs incubator hubs. Yeah, we're now looking in the West Bank and Gaza. We're now looking to finally plug the last jigsaw puzzle missing in the jigsaw puzzle is Acceleration now, it's wonderful that we're you're here and we'd love to see eventually a tech stars with us And or just learn from you how you did how you did that around the world great and try to scale up because one last thing And I'll promise I'll end here You'll see spoke a bit more than two minutes. So I'm allowed to speak a bit. Oh, you spoke I'll just I'll just very quickly say that I'll just very quickly say that honestly time is of the essence, you know And we're raising the alarm bells both both Israelis and Palestinians you have raising alarm bells about the the situation I mean and it's we're all worried that we're seeing that almost the end of Two-state solution and we saw with the recent elections in Israel what's going on And I don't know where things are going everyone's waiting and seeing but things don't look good So that's why we must raise the alarms. However, not in a state of panic But to double and triple our efforts to protect our ideals our values of democracy international law Protect the economy and our resilience And and it's a just like you said is a just cause So that's that's just what I wanted to cover. Sorry took a bit. Thank you so much We left my own about 20 seconds. I'm sorry Well, I'd like to go to you and then I'll I'll I'll go to Abdul Malik allow me here in the front row And then Stanley Bergman if we have if we can have mics for Abdul Malik Mile, could you tell us a little more about then the ecosystem or what did you discuss with Hashem? What are the because what I want to make sure is people are also watching us So what would be the types of startups or sectors that you're seeing in terms of opportunities among the Palestinian entities there so there is Right now, it's very much a blank slate. I think there is as I was mentioning before There's good education a lot of young people lots of influx of capital as you mentioned before From outside of Palestine and a desire to tackle a lot of big problems. So we've talked about FinTech We talked about health tech. We talked about ed tech all of the things that are actually really important and related to the challenges Related to the challenges that the the economy there Their faces and so look the reality is that it takes time to develop an ecosystem I agree with your time of the is of the essence at the same time based on our experience We've been around for 15 years. We organize thousands of ecosystem development events every year to be able to make investments And it starts with as I say going around and telling entrepreneurs or want to be entrepreneurs You can actually be an entrepreneur Then the next step is to provide them with capital because it's great to give people hope But if you don't give them money, that's not going to go very far So then you need to give them capital then you need to give them mentorship a lot of what we're doing with our Extrater program is that because we take these entrepreneurs who have the desire we gave them capital But if they have no mentors if they have no support they're not going to be successful and then you need to give them a network because no one ever succeeds alone and One of the things that we we bring and the reason why we're generally well received in the countries that we go in is that we bring 24,000 investors who have invested in in a textures company and 8,000 mentors and when we look at at an economy that is That has all the sign that it could be even better than what it is very much bigger than what it is like for us It's like, yeah, let's go. Let's let's figure out how we can how we can make that together Thank you so much. Thank you also for being so crisp and focused and inspiration to us all Sure, she's not from the Middle East Thank you, and we have two minutes, so I'd like to go to Abdul Malik Stanley and also I think I'm me but if you can be brief Abdul Malik Because so it's an outside perspective, but from the region Morocco has diplomatic relations with Israel But also is supporting Palestine and the Palestinian economy if you can tell us a little more about that Thank you very much for including Morocco in this conversation and in one minute all taxes included I would say that We're a very old country. We're 1300 years old Recognize our Jewish heritage in our constitution 500,000 Israelis that have either the mother or their father who were born in Morocco and where We have always been An honest broker in the conversation and this position of being the honest broker is slowly shifting from Political resolution to the economy and we look at the Moroccan private sector We're more and more interested in building bridges with Palestinian entrepreneurs a hundred Palestinian entrepreneurs when Morocco Last in the last six months. They're looking at Moroccan entrepreneurs and our experience But also the role that historically we play as mediators Helps business the iconic example is very recent the reopening of the LNB bridge It was under Moroccan mediation. So our ambition as Morocco is to keep dialogue with both sides We are for a two-state solution, but we do believe that Although the economy cannot substitute itself to a peaceful settlement It's one of the necessary condition in order for peace to arrive more rapidly. Thank you so much Really quickly Stanley Bergman and then I mean Applebaum and then we wrap up We're thank you for continuing to sponsor these discussions. I was born in South Africa left for the United States South Africa was at the brink of explosion when we left Yeah, you can debate Corruption and all of that but this the political resolution occurred We don't publicize it. We have people my company is Fortune 500 We have people in Palestine on the ground remote work is now very much possible It's not frowned upon and I would encourage you to think about attracting Foreign companies to think about remote work People speak English You can answer the phone. It's done in the Philippines. It's done in India. Why not Palestine and areas such as dealing with accounts payable accounts receivable remotely on behalf of international companies is now Fine it works. We've shown that remote works. And so I would encourage this dialogue Marek to continue don't give up and There are opportunities for you to bring the world to Palestine Thank you so much and I'm a apple balm and then we wrap up So then after I made then stew and then we're really out of time. So yeah So we have one minute, but I am good students from your students. No, no, please for a mile The story is that I was sitting on the plane and the guy come and say his name is Zamlot and he's a Palestinian ambassador and they say I am your neighbor and I said what do you mean neighbor? I Thought you are Israeli. He said no, I'm neighbor. So I asked neighbor from Jordan. He said no, I'm not from Jordan I'm from Ramallah. I said Ramallah. And what is your job? I'm ambassador And I asked him so why were two friends that sitting next to each other? And we are not taking advantage on the each other capabilities That is really the as mentioned rightly here the startup nation Why we are not working together on the startup nation and he said army How can we be become a startup nation? I said I invite you to come to the company I worked before KLA and you will see what the startup looks like and I can take you into some friend of mine They show you how you can give like a cold services and so on and he came and He watched and he saw and I said why don't we agree? That we will go on what is possible Meaning that we will work bottom up and not top down and bottom up people We'll make business people will walk in the High-tech like in a large company we in Israel innovation authority with I'm chairing we can put together a fund that will Walk together like we do with many other of our our friend in other countries or even inside Israel to support and and they learn from each other experience and That's my message to everyone. Let's do what is possible. Let's not continue to argue What's impossible? It's possible to have a strong economical relationship a strong and what what the innovation authority is willing to do We everything that we can do with any other Country that we are because by law. We are serving only the Israel States, but we're working with many other countries including United by Arab Emirates Why we should work with United Arab Emirates and not with the Palestinians. Thank you Thank you so much and to close us off with Stu with his comment Stu Eisenstadt a Practical suggestion in the Clinton administration. We created Something that Congress still has on the books called the qualifying in Zachero zone In the Gaza, which I visited is under Secretary of State We had 30 plants all you need is a minimum of 10% Israeli content You could ship back duty-free those 30 plants and employ 1,200 Gazans the second phase was already being built And then the second end to fodder occurred. There is no Qiz in the West Bank Fantastic way the law is there The administration would get behind it you would get and those 30 companies were not just Israeli companies In fact most were not Israeli companies. They were Japanese. They were American taking advantage of the duty-free treatment So this is a practical suggestion. It's on the books. It can be done. And I think the forum can help mobilize this Yossi knows about it. So it's a practical suggestion We've done it also with Egypt and Jordan in Jordan 150,000 13 in Jordan there for a fad in Egypt Thank you. That's a good idea. Great. Thank you so much also for the practical suggestions and Also, just wanted to thank everyone and particularly Yossi and Hashim for Keep driving it forward despite the headwinds and also we remain committed. Thank you. I'm not doing it alone There are a lot of people