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June 18, 2014 12:57 pm

U.S. and Israel Discuss Advancing Economic Cooperation

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U.S. Secretary of the Treasury Jack Lew. Photo: Department of Treasury via Wikimedia Commons. U.S. Secretary of the Treasury Jack Lew met with Israeli economic leaders on Wednesday to discuss advancing economic ties between the two countries as part of the U.S.-Israel Joint Economic Development Group (JEDG).

In his first trip to Israel as U.S. Treasury secretary, Lew, who is also an observant Jew, praised Israel for its high-tech prowess.

“As one of the most technologically-advanced and innovative economies in the world, Israel is an important economic partner to the United States,” Lew said in a joint appearance with his Israeli counterpart, Israeli Finance Minister Yair Lapid, The Jerusalem Post reported.

“We look forward to taking concrete steps to liberalize trade standards, increase market access for agricultural products, and advance a new bilateral science and technology agreement, which would allow for close cooperation on innovation and research,” Lew added.

The JEDG is an annual bilateral meeting between the U.S. and Israel to discuss how to improve economic ties between the two countries as well as with the global economy. The focus of the latest meeting is to discuss how to grow business ties and promote innovation and energy initiatives.

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