Mayor Adams and Nir Barkat Commit to NYC-Israel Economic Cooperation

By Matis Glenn

New York City Mayor Eric Adams and Israeli Minister of Economy and Industry Nir Barkat announced a joint commitment Thursday to strengthen economic ties and foster innovation between the City and the State of Israel.

Adams and Barkat signed a declaration of intent, which included plans for supporting Israeli businesses in the city, organizing business delegations, and the creation of a joint public-private economic council.

According to the declaration, a “Memorandum of Understanding is to be completed by the end of 2023, that will establish a joint New York City-Israel Economic Council to facilitate and enhance economic cooperation.”

The Council will seek to improve the ease of doing business between the city and Israel through a variety of partnerships, such as collaborating around the upcoming Israel Cluster Conference that will take place in New York City during May 2024.

 “New York City and Israel share an unbreakable bond,” Adams said in a statement. “We are both leading the world in innovation, we are both home to diverse communities and safe harbors for the oppressed, and New York City is proud to have to the largest Jewish population in the world outside of Israel.”

Adams said that bolstering economic ties would also help in the fight against antisemitism.

“But today, we are taking the next step and strengthening our bond with this commitment that will help us continue to foster our economic ties, lead to the next set of groundbreaking advances in tech, health care, and climate, and allow us to better exchange ideas and best practices for fighting hate and antisemitism,” Adams continued.  

“To Israelis and Israeli companies, New York City became a second home next to Israel,” Barkat said in a statement. “We share much in common…These are the same shared values that lead us today to declare our joint commitment to encourage, with all of our capabilities, entrepreneurs, companies, and entities from both sides to form new ties and strengthen existing ones in order to bring further prosperity for our economies and for our communities.

 “We are excited about the opportunities this partnership will offer to entrepreneurs, businesses, and innovators on both sides. Together, we will foster economic growth, drive innovation, and make significant contributions to the global economy.”