The Israeli machine tool maker industry is moving away from Israel in the face of the growing Palestinian presence in the occupied West Bank.
The country’s largest manufacturers and the largest international manufacturers of machine tool will close shop in the coming weeks.
Israel’s largest manufacturer of automatic tool, machine tools and drills, which is headquartered in the city of Kiryat Gat, said on Thursday that it will also leave the country.
“The decision has been made that we will not make any more machine tool exports in the country,” said Shlomo Kornblum, the company’s chairman and CEO.
Kornbrum said that he would be working to secure export permits for the products.
The Israeli economy has been devastated by a prolonged period of political and economic isolation.
Israel has not been able to secure an Israeli-Palestinian peace agreement.
The company said it will focus its efforts to export its products in Israel, but will remain a key player in the industry.
The move by the Israeli companies follows a decision by a regional power, Saudi Arabia, to cut ties with Israeli-made machinery and equipment.
Saudi Arabia has been a major importer of Israeli-manufactured machinery and components, such as drill bits and drilling equipment, which it uses to cut its oil exports.
Kornblus’ announcement comes amid growing Palestinian resistance to the Israeli occupation of the West Bank, where a Palestinian uprising in 2000 brought the Arab world’s first intifada.
The Palestinians want statehood and the West Wall, where the two Jewish holy sites are located, to be divided into two states.
The Palestinian government is committed to the establishment of a Palestinian state in the West Area, but Israel considers that a “red line” for its eventual settlement.
Kamal Adwan, a spokesman for the Palestinian Authority, the Palestinian body responsible for relations with Israel, said that Israel is “a nation with a history of dispossession, racism and oppression.”
Adwan said that the Palestinians have been “abusing” the peace process with Israel by trying to “create an obstacle” for an eventual peace deal, and the move to close the company will “prevent that.”