By The Jerusalem Post (World News) | Created at 2024-11-25 01:20:06 | Updated at 2024-11-25 03:59:05
3 hours ago
Israel and the US are evolving their alliance, focusing on technology, security, and mutual economic growth.
By ODED ROSE NOVEMBER 25, 2024 02:47 Updated: NOVEMBER 25, 2024 02:48
Israel's Prime Minister Benjamin Netanyahu meets with US President Donald Trump.
(photo credit: REUTERS/TOM BRENNER)
Over the past year, against the backdrop of ongoing war and regional challenges, the existential necessity of Israel’s partnership with the United States in security, economic, and technological realms has become even more evident.
While the protracted conflict with Iran and its proxies and the regional security crisis pose significant challenges to Israel and the region, the US’ unwavering support for Israel’s security and right to self-defense remains ironclad.
In this critical time, Israel must further invest in bolstering its value to the US.
Beyond Israel’s strategic security role in the US framework for the Middle East and globally, Israel has additional assets to strengthen its bond with its closest ally. Building robust new connections between the two nations will deepen this partnership to the benefit of both.
The war that erupted a year ago has fundamentally altered the regional landscape, leading Israel and the US to a renewed understanding of the importance of deepening their alliance. Both nations recognize that decisions made now will shape Israel’s strategic positioning for years. Moreover, this relationship must adapt to a shifting global reality, encompassing challenges such as competition with China, the need for technological superiority, and supply chain control.
Placing business at the center
Over the past year, the American administration and Congress have demonstrated their steadfast support for Israel. A bipartisan approval of a record $14.5 billion security assistance package underscores Israel’s standing as a central ally. This aid highlights that, at critical moments, the US stands firmly by Israel, even when there are minor differences of opinion.
However, this significant success should not overshadow the broader challenges facing this partnership. The US is undergoing profound demographic and economic shifts that influence its national priorities. Therefore, while current support for Israel remains strong, long-term thinking is essential to formalize and expand the partnership. Security support alone is insufficient; a broader collaboration spanning technology, economics, health, and more must be cultivated.
The evolving Israel-US relationship places the business sector at its core, serving as a stabilizing anchor amid political shifts. In the face of growing US-China competition, Israel offers the US valuable assets in innovation and technology. Israeli companies provide groundbreaking solutions in AI, quantum technologies, and health innovation, aligning with America’s efforts to maintain its technological edge. The economic cooperation between the nations has the potential to shape their technological and economic futures.
This partnership not only reinforces the bilateral relationship but also contributes to Israel’s ability to address regional security challenges and post-war recovery. Strengthening economic ties fosters increased investments and infrastructure development, even as economic forecasts project slower growth in 2025.
Within this intricate trade relationship, the Israel-America Chamber of Commerce (AmCham) plays a pivotal role. AmCham promotes collaborative platforms between Israeli and American companies, encouraging innovation in fields such as artificial intelligence (AI), cybersecurity, sustainability, health, and bio-economy. A recent example is the AmCham AI Forum, comprising dozens of Israeli and American companies operating in Israel.
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The forum focuses on aligning Israeli industry with US regulatory standards and developing Israel’s AI ecosystem to remain at the forefront of global advancements. Similarly, bio-economy, identified by the US administration as a major growth driver, offers critical opportunities for Israel.
This is a partnership with deep roots, yet it must adapt to global shifts. Now, as Israel and the US face new challenges, the business community must lead the way to ensure the relationship remains stable and strong for years to come. By fostering deeper connections, initiating further collaborations, and integrating into the economic strategies of both nations, we can harness the power of this partnership to create a brighter future for both peoples.
The writer is the CEO of the Israel-America Chamber of Commerce, representing approximately 250 Israeli and American companies that account for about one-third of Israel’s economy.
