RAMALLAH, Palestine

The Palestinian Authority (PA) will boycott an economic meeting with Israel on Monday in protest of new Israeli settlement plans in the occupied West Bank. 

"We decided to boycott the meeting of the Joint Economic Committee between the two parties [Israel and PA], which was scheduled to be held tomorrow," Hussein Al-Sheikh, Secretary of the Palestine Liberation Organization (PLO)'s Executive

Committee, said in a statement on Sunday.

He said the move comes in protest of an Israeli government decision to allow hardline Finance Minister Bezalel Smotrich to be in charge of ratifying settlement plans and projects.

Al-Sheikh said the Palestinian Authority will "study a number of other measures and decisions for implementation related to the relationship with Israel."

Meanwhile, Palestinian group Hamas condemned an Israeli announcement of new tenders to build some 4,500 settlement units in existing settlements across the West Bank.

In a statement, Hamas warned that the Israeli decision will lead to further escalation in the region.

Estimates indicate that about 700,000 settlers are living in 164 settlements and 116 outposts in the occupied West Bank.

Under international law, all Jewish settlements in the occupied territories are considered illegal.  

*Writing by Ahmed Asmar