Elliott H. Ring, CPA, CFP

Certified Public Accountant
Certified Financial Planner

market it under their own
brand labels.
A tri-lateral joint venture is
being proposed by a group of
economists from The Armand
Hammer Fund for Economic
Cooperation in the Middle
East. The Tel Aviv Univer-
sity-based researchers have
spent the past year working
out a plan they claim will be
instrumental in encouraging
economic cooperation bet-
ween Jordan, Israel and
Egypt.
They propose turning the
triangle of land on the north-
ern tip of the Sinai Desert at
the Gulf of Eilat and on the
Red Sea, consisting of adja-
cent territory in Jordan,
Israel and Egypt, into a "Free
Tourist Zone" (FTZ).
The region has a wealth of
tourist attractions such as ex-
otic tropical fish, coral reefs,
beaches, sandstone moun-
tains, desert oasis, ar-
cheological and religious
sites, and an average daytime
January temperature of 75
degrees.
As it would be hundreds of
miles away from Amman,
Cairo or Jerusalem, tourists
would be able to travel freely
within the region without
any travel documents. A con-
stitution or charter will deal
with civil law, and a police
and fire fighting force would
be composed of Jordanian,
Egyptian and Israeli citizens.
The FTZ would also be an
incentive for environmental
cooperation. The port of
Aquaba in Jordan is used as
a loading point for Jordan's
fertilizer exports and Israel
uses its port at Eilat for oil
deliveries. Fertilizer dust and
oil spills are the main pollu-
tion dangers of the Red Sea's
spectacular coral reefs. The
FTZ calls for the reconstruc-
tion of the two ports ten
kilometers to the north con-
nected to the sea by a 200m
wide canal. If a spill occurs, it
could be immediately
contained.
Professor Gideon Fishelson,
head of the research project,
says that the "Riveria on the
Red Sea" proposal will soon
be presented to the Israeli
and then the Egyptian
governments for first
reactions.
"At this stage planning of
the FTZ could be coordinated
at the municipal level
through a third party coor-
dinator/mediator such as the
World Bank or Aid. Our goal
is to create the conditions for
mutual economic interest,
before Israel and Jordan sign
a formal peace treaty." 0

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Registered Representative
Offering Securities Through

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THE DETROIT JEWISH NEWS

39