Occupation of the Gaza Strip by Egypt truce was achieved. Israeli forces proceeded to withdraw from Sinai and Gaza. On 24 February 1949, the Israel–Egypt Armistice Agreement was signed in Rhodes. Under the agreement, the armistice line was drawn along the international border (dating back to 1906) for the most part, except near the Mediterranean Sea, where Egypt remained in control of a strip of land along the coast, which became known as the Gaza Strip. (See 1949 Armistice Agreements.) The All-Palestine Government was an entity established by the Arab League on 22 September 1948, during the 1948 Arab–Israeli War, purportedly to provide a Palestinian government for
Gaza Strip withdrawal. In 2005, after the Israeli withdrawal from the Gaza Strip, Gaza businessmen envisaged a "magnificent future". $1.1 million was invested in an upscale restaurant, Roots, and plans were made to turn one of the Israeli settlements into a family resort. The European Union states: "Gaza has experienced continuous economic decline since the imposition of a closure policy by Israel in 2007. This has had serious social and humanitarian consequences for many of its 1.7 million inhabitants. The situation has deteriorated further in recent months as a result of the geo-political changes which took place in the region during the