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U.S., Israel discuss economic development

(JTA) — The U.S. and Israel discussed economic development and high-tech cooperation at a conference in Jerusalem.

Delegations from both countries met Tuesday at the U.S.-Israel Joint Economic Development Group 2009 Mid-Year Review to discuss Israel’s progress towards meeting conditions for the release of 2009 and 2010 loan guarantees. The U.S. delegation praised Israel for being on track to meet its 2009 fiscal targets.

The delegations also discussed possible expansion of existing high-tech cooperation for the purpose of promoting job creation, innovation, and business-to-business collaboration.

The U.S. delegation was headed by Andy Baukol, acting Assistant Secretary of the Treasury for International Affairs, and Tom Engle, director of the Office of Monetary Affairs at the Department of State. The Israeli delegation was represented by Stanley Fischer, governor of the Bank of Israel, Chaim Shani, director general of the Israeli Ministry of Finance, and Eugene Kandel, chairman of the Israeli National Economic Council.

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