An employee arranges an Israeli national flag next to a U.S. one.
(photo credit: REUTERS)
The US Chamber of Commerce has launched a new program to encourage American entrepreneurs to do business with their Israeli counterparts.
Developed in partnership with Tel Aviv-based affiliate, the Israel-America Chamber of Commerce (AmCham Israel), the “Business Israel” program will bring executives from leading American business organizations to Israel over the next several years, the US Chamber of Commerce announced on Monday.
Business Israel was launched during this week’s inaugural mission to Israel led by Myron Brilliant, executive vice president and head of international affairs at the US Chamber.
“The US-Israel commercial relationship supports thousands of jobs in the US and drives technological innovation that benefits our companies and economies,” Brilliant said. “By bringing American state and local chamber executives to Israel, we can encourage international collaboration and boost economic growth in our cities, states and country.”
Over the next three years, the chamber said it plans to bring state and local chamber executives from all 50 states to Israel, in order to expand markets for American exports, attract investments in the US and create new collaborations with Israeli companies in sectors like water, agriculture, cybersecurity and health.
America’s first free trade agreement with Israel was in 1985. Aside from American companies, Israeli firms have the largest representation on the NASDAQ exchange.
Meanwhile, 40% of all Middle Eastern investment in the US comes from Israel – which is also the second-largest importer of US goods in the region, the chamber said.
“This multi-year program is an asset to American-Israeli economic relations, as it will enable the American chambers to see, firsthand, what Israel has to offer,” said Ofra Strauss, chairperson of the board at AmCham Israel as well as the Strauss Group. “The strategic alliance between the United States and Israel is based on our shared values and goals, and I strongly believe that our bilateral commerce will surely guarantee further success.”