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3/19/2020

Joint Statement on the U.S. – Israel Joint Economic Development Group | U.S. Department of the Treasury

Joint Statement on the U.S. – Israel Joint Economic Development
Group
October 24, 2019

WASHINGTON – On October 23, more than 80 U.S. and Israeli o icials gathered together at the
U.S. Department of State to participate in the 34th meeting of the U.S. – Israel Joint Economic
Development Group (JEDG), the annual economic policy dialogue between the two nations first
held in 1985. 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.
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.
Of particular note, Israel’s Higher Education Council and U.S. Department of Energy o icials
initiated discussions on the possibility of conducting joint research collaboration at the Fermi
National Accelerator Laboratory. In addition, o icials from Israel’s Finance Ministry and the U.S.
Department of Treasury reviewed regulatory considerations and opportunities for investment
cooperation in FinTech.
The Israeli JEDG delegation was headed by Director General of the Israeli Finance Ministry Shai
Babad and included Israeli Ambassador to the U.S., Ron Dermer, Governor of the Bank of Israel
Amir Yaron and Chief Economist Shira Greenberg, as well as o icials from Ministries of Finance,
Transportation, Foreign A airs, Israel Tax Authority, Israel’s High Education Council, and
academics from Bar Ilan University.
U.S. Treasury Under Secretary for International A airs Brent McIntosh headed a large U.S.
delegation that included Assistant Secretary of the Treasury Tom Feddo, Assistant Secretary of
Housing and Urban Development Seth Appleton, Deputy Assistant Secretary of State Joel
Rayburn and other o icials from the Departments of State, Treasury, Housing and Urban
Development, Energy, and Transportation, as well as USAID, the White House O ice of Science
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Joint Statement on the U.S. – Israel Joint Economic Development Group | U.S. Department of the Treasury

and Technology Policy, the U.S. Environmental Protection Agency and the National Institute of
Standards and Technology.
Under Secretary McIntosh underscored the strength and durability of U.S. – Israeli relations,
expressing his appreciation for the JEDG and the opportunity it provides "to expand
cooperation and help accelerate growth in both our economies." In his remarks, Director
General Babad noted 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.”
The U.S. – Israel Joint Economic Development Group, which has met since 1985, is the premier
platform for U.S.-Israel bilateral economic dialogue.

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