The U.S.-Israel relationship is most often seen through the prism of security and defense cooperation, but the two countries have also built an extraordinary economic partnership based on innovation and investment in a broad range of sectors. Hundreds of U.S. companies have research and development (R&D) centers in Israel that produce an amazing array of innovative solutions. And despite accounting for just 2% of the region’s population, Israel is responsible for 44% of the Middle East region’s foreign direct investment in the U.S.
These commercial ties are contributing to our economy, support thousands of jobs in the U.S. and Israel, and drive game-changing innovation in critical sectors, including health care, financial services, hi-tech, and sustainability. The growth of the economic relationship has been buoyed by innovative public policies established by both governments decades ago, including the U.S.-Israel Free Trade Agreement (FTA) signed in 1985, and the creation of the three binational foundations set up in the 1970s to support science, technology, and commercial relations.
Despite these successes, the once pioneering policies that support U.S.-Israel commerce are increasingly losing their competitive edge. The global economy has changed remarkably since Israel and the U.S. laid these cornerstones many decades ago. On behalf of the U.S.-Israel Business Council and our member companies, we recommend that our governments consider the following 4 Big Ideas as they chart a way forward on U.S.-Israel relations.
Click the link above to read the Chamber's "4 Ideas for U.S.-Israel Ties."