Monday, June 16, 2008

Make jobs, not war

FRIDA GHITIS
While Arab and Israeli peace negotiators expend their energy trying not to bolt out of their seats in exasperation, businessmen and women on both sides think they may have just found a way to peace that will prove faster, more entertaining and definitely more profitable. Driven more by a quest for profits than by ideology, Arab and Israeli entrepreneurs are quietly working together on a variety of ventures.

Small-scale partnerships between Israelis and Palestinians and between other Arabs and Jews have happened for years. Larger, higher profile deals are now becoming more common. In recent months, an iconic New York landmark, the Plaza Hotel, reopened after a transaction between a super-wealthy Arab prince and an Israeli billionaire. Prince Alwaleed bin Talal sold the property to Israel's Yitzhak Tshuva, who refurbished the hotel made famous by the Eloise children's books, among others. A recent report says that Jewish businessman Mortimer Zuckerman is trying to buy the GM building in New York, with backing from Arab investors from Qatar and Kuwait. The biggest business venture of them all, however, is still to come. And this one, say its enormously excited proponents, will change the landscape of the Middle East, quite literally.

In the next few weeks, a major announcement will launch a project known by its starry-eyed boosters as the ''Valley of Peace.'' The ambitious multibillion-dollar plan is to build a channel connecting the Dead Sea and the Red Sea, involving Jordanians, Israelis and Palestinians.

''People are sick and tired of peace conferences because they don't see results,'' said Israeli President Shimon Peres, a long-time champion of the plan. ''Here,'' he said, ``they can have jobs and make a living.''

The idea is not new. Engineers have been discussing it for a century and a half. And for years Peres, a not-stellar politician but a remarkable visionary, has been sharing his dream with anyone who would listen. Politicians talked a lot, but the project started to become reality only when billionaires in Israel and elsewhere decided to jump on board. As it stands now, the project will require no state funding. A long list of wealthy Israelis is excitedly on board, and Arabs are also throwing in their support.

Tshuva, who dealt with Prince Alwaleed on the Plaza deal, says the prince is enormously enthusiastic and that he told him that peace and economics go hand hand. Jordan's King Abdulla II reportedly wants to play an active role in the project.

The idea is to make this a profitable venture, but the symbolic and practical potential of the vision escapes no one. ''Peace,'' said Tshuva, ``will be made not by peace agreements but by creating cooperation and goodwill among the peoples of the region.''

There is more to the project, however, than dreams of brotherhood and love. The first stage, with a cost of $3 billion, would include a 102-mile canal linking the Red Sea with the Dead Sea. The Red Sea would feed the fast-drying Dead Sea. Because the former is 400 meters above the latter, the drop in the stream would be used to create electric power. In addition, a massive desalination plan could provide water for the bone-dry region. Eventually, the Valley of Peace would expand to more than 300 miles along the Israeli-Jordanian border. High speed trains would transport tourists and businessmen. More than a million jobs would be created, say developers, with hundreds of thousands of those jobs going to Palestinians.

New hotels would sprout, building 200,000 more rooms and quadrupling Israel's already booming tourism industry. The entire area would become a free trade zone, which, if the dreamers' visions prove accurate, would create a zone of prosperity in what has been an area of strife.

Developers say they expect investors from other countries to join in, not only Arabs and Israelis, but entrepreneurs from all corners of the globe. After all, the language of profits is one that is spoken the world over.

Problems, you say? Sure. The list is long. But the people who are pushing this idea are achievers, self-made billionaires many of them, and they are used to turning ambitious dreams into reality. They say once the permits and legislation are secured, the first phase could be ready in as little as two years. A little matter of wars, terrorism, economic boycotts is not going to stand in their way. After all, they say, this is the land of miracles. Stay tuned for a joining of the seas.

Frida Ghitis writes about global affairs.
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