Israel-US commercial relations strengthen after 80 organizations sign MoU to improve bilateral ties
The new initiative followed a summit organized by the Michigan Israel Business Accelerator (MIBA) and aims to improve economic and commercial cooperation between Israel and the US.
The Michigan Israel Business Accelerator (MIBA) concluded its summit on Thursday, with 80 leaders from various sectors signing a Memorandum of Understanding (MoU) aimed at strengthening economic and commercial ties between Israel and the United States. The summit, held in Detroit, unveiled the creation of the US-Israel Innovation Exchange (USIIE), a new platform that will unify several projects working on expanding commercial cooperation between the two nations.
According to Mark Davidoff, CEO of MIBA, USIIE will serve as a nationwide hub to accelerate the development of partnerships, cross-border investment, and job growth. Israeli companies operating in the US are reported to have generated over 28,500 jobs and $13.3 billion in economic value, with the MIBA connecting over 5,000 business leaders and driving over $90 million in direct economic impact since its foundation in 2021.
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