03.29.17

Peters Cosponsors Legislation to Recognize and Encourage U.S-Israel Economic Partnership

WASHINGTON, DC – U.S Senator Gary Peters (MI), a member of the Senate Homeland Security Committee, today announced he is cosponsoring bipartisan legislation to recognize the economic accomplishments of the U.S.-Israel economic partnership, and support expanded dialogue between the U.S. and Israel to encourage innovation in science and technology across a variety of industries.

“Maintaining a strong, constructive relationship with Israel, our strongest ally in the Middle East, is crucial to the future of innovation for both nations,” said Senator Peters. “I am proud to work with my colleagues from both sides of the aisle to advance both American and Israeli economic interests and explore innovative technologies that will strengthen both our nations’ economic and national security.”

Since the United States-Israel Free Trade Agreement was signed in 1985, Israel has been a key trading partner with the U.S, playing an instrumental role in aiding the development of new and emerging technologies, as well as facilitating a mutually beneficial, bilateral economic relationship. The resolution encourages the President to expand on this relationship by exploring new agreements with Israel related to innovation in energy, water, agriculture, medicine, nanotechnology, and cybersecurity.

Michigan has a vibrant economic relationship with Israel. Michigan exported nearly $150 million of goods to Israel in 2014, and maintaining this strong partnership is vital to Michigan’s economic success. Michigan’s advanced manufacturing industry works closely with Israel’s technological sectors to improve manufacturing practices and develop new technologies in areas like self-driving vehicles and cybersecurity.