USCC sets up Israel-US business council

That is under the assumption that Israeli start-ups and technology appeal to the American business world. from 1985 to 2009, US-Israeli trade has increased by 500%
 
The U.S. Chamber of Commerce (USCC) set up last week a new joint U.S.-Israel “business council.” According to a USCC press release, a “global summit” on Oct. 19 celebrated the 25th anniversary of the U.S.-Israel Free Trade Agreement (FTA) by launching the “U.S. Israel Business Initiative”.
 
The new council will be working towards simplifying proceedings and removing legislative barriers and regulations between the two countries. The US Chamber of Commerce was initiated under the assumption that Israeli start-ups and technology appeal to the American business world.
 
The USCC put a huge emphasis on the inauguration event celebrating the initiative, held in the presence of the American Secretary of Commerce, Gary Locke, and his Israeli counterpart, Binyamin Ben-Eliezer. US Ambassador to Israel James Cunningham and Israeli Ambassador to the US, Michael Oren.
 
A plethora of guest speakers were invited “to address top innovators and entrepreneurs from both countries about potential global investment opportunities, and provide guidance regarding the industries that will shape the future of the U.S.-Israel commercial alliance.”
 
Industry, Trade and Labor Minister, Ben-Eliezer, said that bilateral business between the two countries has been blooming. He added that from 1985 to 2009, US-Israeli trade has increased by 500%, from US$4.7 billion to US$28.3 billion.
 
Ben-Eliezer mentioned that around US$78 million worth of business between the countries happens everyday. He also said that Israel was committed to exploring new and creative ways to promote commerce with the US.