RAMALLAH, Nov. 30 (Xinhua) -- The Palestinian Authority and Switzerland on Monday agreed to establish a joint business council in order to enhance the economic and trade cooperation between the two sides.

In the presence of the representatives of the Palestinian public and private sectors, Palestinian Economy Minister Khaled al-Osaily signed an agreement with Swiss Federal Councilor and Foreign Minister Ignazio Cassis in Ramallah city.

In a press statement, al-Osaily said "it is very important for Palestine to establish joint investments with Switzerland by creating financial companies."

He expressed his hope to establish partnerships between the Palestinian businessmen and their Swiss counterparts in various economic fields.

For his part, the Swiss minister said that the joint business council "will strengthen the relations between Swiss and Palestinian businesses, which will improve the career prospects of the Palestinian youths."

He wishes that this council would encourage the Swiss businessmen to invest in the Palestinian territories. Enditem

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