WORLD TRADE CENTERS

Location: Palestinian territory

This is a geographic region between the Mediterranean Sea and the Jordan River, and various adjoining lands.  The boundaries of the region have changed throughout history and were first defined in modern times by the Franco-British boundary agreement (1920) and the Transjordan memorandum of 16 September 1922.  Today, the region comprises the country of Israel and the Palestinian territories.  The September 1993 Israel-PLO Declaration of Principles on Interim Self-Government Arrangements provided for a transitional period of Palestinian self-rule in the West Bank and the Gaza Strip. Under a series of agreements signed between May 1994 and September 1999, Israel transferred to the Palestinian Authority (PA) security and civilian responsibility for many Palestinian-populated areas of the West Bank and Gaza Strip.

Population: 2,622,544 (July 2012 est.) approximately 311,100 Israeli settlers live in the West Bank (2010); approximately 186,929 Israeli settlers live in East Jerusalem (2010) (July 2011 est.)
Intended seat of government: East Jerusalem. Ramallah serves as administrative capital.

Area: Palestinian Ministry of Information cites 5,970 sq km (2,305 sq miles) for West Bank territories and 365 sq km (141 sq miles) for Gaza
Major language: Arabic
Major religions: Islam, Christianity

The West Bank - the larger of the two areas comprising the Palestinian territories - has experienced a relatively high single-digit economic growth rate since 2008, but this rate has been sustained by inflows of donor aid rather than private sector economic activity.

GDP: $12.79 billion (2009 est.)

GDP by Sector: Agriculture: 3.7%, industry: 13.6%, services: 82.7% (includes Gaza Strip) (2011est.).

Exports: $518 million (2009)

Main Exports:  Stone, olives, fruit, vegetables, limestone.

Imports: $3.601 billion (2009)

Main Imports:  Food, consumer goods, construction materials, petroleum, chemicals.

World Trade Centers Holdings Cyprus holds the license for the entire Palestinian Territory, the city of Ramallah is the working Capital and is located 10 kilometres north of Jerusalem, adjacent to Al-Bireh. It currently serves as the de facto administrative capital of the Palestinian National Authority. Ramallah was historically a Christian town, but today Muslims form the majority of the population, with a strong Christian minority.  Ramallah has been described as the seat of power of the Palestinian Authority and serves as the headquarters for most international NGOs and embassies. Hundreds of millions of dollars in aid flowing into the city have boosted Ramallah’s economy greatly since the end of the second Intifada.  The Ramallah construction boom is one of the most obvious signs of West Bank economic growth estimated at an annual rate of 8 percent. This has been attributed to relative stability and Western donor support to the Palestinian Authority.  Ramallah's buoyant economy continues to draw Palestinians from other West Bank towns where jobs are fewer.  The built-up area has grown fivefold since 2002. By 2010 Ramallah had become the leading center of economic and political activity in the territories under the control of the Palestinian Authority.