I'm wondering if this move has any connection to MEFTA. They may seem unrelated but I just have a suspicion.
According to the Wikipedia page "The single largest hurdle to MEFTA is the inclusion of Israel." I think the single largest hurdle to MEFTA and other free trade areas in that part of the world is the existence of Israel.
So other pro-NWO groups, seemingly unrelated, like the Vatican, could be being used to weaken Israel further.