U.S. Chamber’s Brilliant Visits Israel for FTA Anniversary

The FINANCIAL — U.S. Chamber of Commerce’s Executive Vice President and Head of International Affairs Myron Brilliant visited Israel last week to mark this month’s 30th anniversary of the U.S.-Israel Free Trade Agreement and the 50th Anniversary of the Israel-America Chamber of Commerce (AmCham Israel).

The visit provided Brilliant the opportunity to discuss growing bilateral business ties between the U.S. and Israel with private sector and government leaders, according to U.S. Chamber of Commerce.

“The commercial relationship for our two nations supports tens of thousands of jobs in both countries and is a primary driver of innovation that strengthens both economies,” Brilliant said. “The U.S. business community sees opportunities for expanding ties in sectors like energy, water and cybersecurity, but urges high-level attention to this aspect of the relationship.”

Later this year, Brilliant and the U.S. Chamber will host business and government leaders from Israel in Washington to celebrate the anniversary of the FTA, which was officially implemented on September 1, 1985. Since the implementation of the FTA, two-way trade in goods between the U.S. and Israel has expanded eightfold, reaching more than $38 billion by the end of 2014.

In a speech September 9 in Tel Aviv at a gala hosted by AmCham Israel, Brilliant announced that the U.S.-Israel Business Initiative is finalizing a study that will outline a vision for the next 30 years of the alliance between the two nations.

“To maintain their competitive edge and grow their vital economic relationship after 30 years, we believe that Israel and the United States must undertake a new round of smart, cooperative policy innovation,” Brilliant said. “To that end, we are working on with AmCham Israel and the Manufacturers Association of Israel on releasing this study before the end of year, providing perspective from the business communities on how we can make those necessary policy changes in areas like trade, investment, research and development.”