Hussein Al-Sheikh, the Palestinian Authority’s (PA) “civil affairs minister”, claimed on Monday that Israel agreed to hold an Israeli-Palestinian meeting, sponsored by France, to review the Paris Protocol, the economic agreement between Israel and the Palestinian Authority.
The Paris Protocol, signed on April 29, 1994, stipulates that Israeli currency, the New Israeli Shekel (NIS), is used in the PA as a circulating currency which legally serves there as means of payment for all purposes and to be accepted by the PA and by all its institutions, local authorities and banks. Imports from and exports to third countries, including quantitative restrictions, are subject to Israeli supervision and the Protocol gave Israel sole control over the external borders and collection of import taxes and VAT.
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