A New York City Police officer monitors the “Israel Day on Fifth” parade in New York City, U.S., May 18, 2025. Photo: REUTERS/Angelina Katsanis

New York City Mayor Eric Adams and Israeli Minister of Economy and Industry Nir Barkat announced a Declaration of Intent on Monday to establish a joint initiative that will further economic and business ties as well as innovation between the two governments.

The New York City–Israel Economic Council will focus on fostering business partnerships between the city of New York and Israel in economic development, emergency management, education, and technology. It will help Israeli businesses and startups that want to establish a presence in New York City; support collaboration in sectors including environmental innovation, life sciences, and artificial intelligence; and coordinate participation in major business and technology conferences.

The council will meet regularly and will be comprised of representatives from the New York City Mayor’s Office and Israel’s Economic Mission to the United States. Adams’ Office for International Affairs is leading the initiative. The Declaration of Intent signed by Adams and Barkat on Monday is non-binding but highlights a commitment between the two governments to collaborate and build partnerships.

“It is a tremendous honor to establish this joint council with one of the world’s greatest cities,” Barkat said in a released statement. “A global hub of innovation, creativity, and economic leadership, New York represents a powerful partner for Israel’s thriving business ecosystem.*

*The creation of this council reflects a strong vote of confidence in the vitality of Israeli innovation and in New York’s position as a gateway to global markets,” Barkat added. “This agreement will have a very positive impact on the international exports from Israel’s market, establish a stronger presence of Israel’s renowned innovation in New York City, and open opportunities in sectors such as fintech, health tech and life sciences, high tech and software, defense and public safety, environmental innovation, and agro-food tech.”

“This initiative opens new opportunities for Israeli companies to engage with the dynamic New York market, while contributing meaningful value to the city’s diverse economy,” he further noted. “We extend our deep gratitude to Mayor Eric Adams for his enduring friendship and partnership with Israel, his commitment to strengthening economic ties, and his unwavering support for Israel on the international stage.”*

Mayor Adams said the Declaration of Intent to establish the New York City–Israel Economic Council “reflects a proud tradition of New York City mayors collaborating with Israel, and will drive innovation, create jobs, and strengthen the unbreakable bond between our two governments.”

“The NYC–Israel Economic Council represents both strategic partnership and moral clarity,” said Moshe Davis, the executive director of the Mayor’s Office to Combat Antisemitism, which was announced earlier this month. “As antisemitism rises globally, New York City is responding with substantive collaboration in key sectors like environmental innovation and artificial intelligence. This council will not only drive opportunity and growth, it will demonstrate that the world’s greatest city stands firmly with Israel and the Jewish people.”

New York City is home to the largest Jewish population outside of Israel.