▁the ▁initi ative ▁could ▁bring ▁last ing ▁peace ▁and ▁transformation ▁to ▁the ▁region . ▁Regarding ▁Palest ini ans , ▁he ▁said , ▁ ▁Local ▁planning ▁and ▁efforts , ▁ 2 0 0 8 – 2 0 1 1 ▁In ▁March ▁ 2 0 0 8 , ▁Isra eli ▁and ▁Palest in ian ▁civil ▁defense ▁officials ▁gathered ▁for ▁their ▁first ▁full ▁official ▁meeting ▁in ▁a ▁de cade , ▁to ▁discuss ▁further ▁coord ination ▁of ▁efforts ▁to ▁further ▁purs ue ▁this ▁project . ▁ ▁In ▁May ▁ 2 0 0 8 , ▁a ▁major ▁economic ▁international ▁conference ▁was ▁held ▁in ▁Beth le hem , ▁at ▁which ▁various ▁business men ▁and ▁local ▁leaders ▁discussed ▁various ▁opportun ities ▁for ▁economic ▁development . ▁Several ▁leaders ▁addressed ▁the ▁conference , ▁including ▁the ▁director ▁of ▁the ▁World ▁Bank . ▁The ▁conference ▁was ▁spons ored ▁by ▁various ▁international ▁private ▁companies ▁and ▁some ▁public ▁organizations . ▁Conference ▁sessions ▁covered ▁many ▁details ▁of ▁Palest in ian ▁Development . ▁One ▁agricult ural ▁entrepr ene ur ▁noted ▁that ▁Israel ▁is ▁his ▁biggest ▁market , ▁while ▁others ▁speak ers ▁noted ▁the ▁need ▁for ▁coord ination ▁with ▁Israel ▁to ▁allow ▁further ▁development . ▁ ▁One ▁major ▁part ▁of ▁the ▁plan ▁consists ▁of ▁a ▁canal ▁between ▁the ▁Dead ▁Sea ▁and ▁the ▁Red ▁Sea . ▁In ▁May ▁ 2 0 0 8 , ▁Y itz h ak ▁T sh u va , ▁an ▁Isra eli ▁business man , ▁announced ▁plans ▁to ▁launch ▁this ▁project . ▁This ▁would ▁involve ▁labor ▁by ▁both ▁Israel is ▁and ▁Palest ini ans . ▁It