A group of Israeli and Palestinian businessmen, complaining that fighting is an economic disaster, say they are joining forces to lobby their governments for peace.

The executives made their announcement Monday at the World Economic Forum in New York.

Walid Najjab, head of the Palestinian Electricity Company in East Jerusalem, said the business community has always been the most active and aggressive voice for peace. He says politicians build wars while businessmen build bridges.

The head of the Federation of Israeli Chambers of Commerce, Dan Gillerman, called the new effort a breakthrough in Israeli-Palestinian relations. He joked that the peace process should be privatized and handled by businessmen.

The group plans to hold regular meetings in Israel and the Palestinian territories, as well as separate talks with Israeli Prime Minister Ariel Sharon and Palestinian leader Yasser Arafat.

Some information for this report provided by AP and Reuters.

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