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Secretary for International Affairs Brent McIntosh underscored the strength and durability of U.S.-Israel relations.

By United With Israel Staff

Delegations from Israel and the United States participated in the 34th meeting of the U.S.–Israel Joint Economic Development Group (JEDG) at the U.S. Department of State last week.

“Both sides expressed satisfaction with the trajectory of bilateral economic relations and underscored respective commitments to expanding and deepening policy coordination and cooperation across a broad range of sectors,” according to a joint statement on the U.S. Treasury Department website.

The meeting has taken place annually since 1985. It is the premier platform for U.S.-Israel bilateral economic dialogue. This year, more than 80 officials from both counties discussed economic policy.

“This year’s agenda covered risk management for foreign investments, women’s economic empowerment, quantum information science and artificial intelligence research collaboration, exploration of technological innovations in public transportation, and the role of government in encouraging private sector investments for more sustainable development outcomes,” the statement said.

Israel’s Higher Education Council and U.S. Department of Energy officials discussed the possibility of conducting joint research collaboration at the Fermi National Accelerator Laboratory in Illinois. Fermi is a U.S. Department of Energy national laboratory specializing in high-energy particle physics.

Additionally, Israel’s Finance Ministry and the U.S. Department of Treasury reviewed regulatory considerations and opportunities for investment cooperation in FinTech, an emerging industry that uses technology to improve activities in finance.

Director General of the Israeli Finance Ministry Shai Babad headed Israel’s delegation. Participants included, among others, Israeli Ambassador to the U.S. Ron Dermer, Governor of the Bank of Israel Amir Yaron and Chief Economist Shira Greenberg. Officials from the Ministries of Finance, Transportation, Foreign Affairs, Israel Tax Authority and Israel’s High Education Council, as well as academics from Bar Ilan University, were present.

Babad said that excellent “cooperation on the government level enables private sector firms to operate jointly through the establishment of R&D centers by U.S. multinationals and allows Israeli companies to expand to U.S. markets,” according to the statement.

U.S. Secretary for International Affairs Brent McIntosh, underscoring the strength and durability of U.S.–Israel relations, said that JEDG provides opportunities “to expand cooperation and help accelerate growth in both [U.S. and Israeli] economies.”

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