Statements by Jewish settlers that describe a new Palestinian campaign to boycott the Israeli settlements' products as economic terror are meaningless and are doomed, a Palestinian official said on Wednesday.

Omar Abu Subaih, organizer of a home-to-home campaign to warn people against purchasing products of the Jewish settlement built in the occupied Palestinian territories, told Xinhua that the " settlers' attempts to stop the campaign will fail," affirming that the "settlements and their products are the real terror."

"The Israeli threats against and pressure on the Palestinian National Authority (PNA) will not change our stance," he stressed.

Yesha Council, an umbrella organization of settlements in the West Bank, on Tuesday slammed the Palestinian campaign to boycott the products and called on the Israeli government to "immediately respond to the Palestinian actions."

"This is an act of hostility, with intents and purposes on the part of the Palestinian Authority and its leaders, and it must be answered immediately and decisively," according to a statement issued by the settlers' council.

The PNA launched a campaign called "from home to home" to tell Palestinians in the West Bank to boycott about 500 items produced in Israeli settlements, that the Palestinians see as "illegal" and an obstacle to peacemaking.

According to official Palestinian statistics, the Palestinian market annually consumes 200 million U.S. dollars of products made in the West Bank settlements.

Israeli media reported last week that around 17 Israeli factories had shut down since the PNA launched the boycott campaign in 2009.