WASHINGTON The Bush administration announced creation of a U.S.-Israel High-Tech Forum on Thursday (Sept. 6) designed to bolster two-way technology trade and investment.
The agreement was reached during a recent visit to Israel by Mario Mancuso, undersecretary of commerce for industry and security.
Mancuso met with senior Israeli officials to work out details of the high-tech forum and discuss related export security issues. He also met with industry executives and visited technology hubs in Tel Aviv, Jerusalem and Haifa, according to the Commerce Department's Bureau of Industry and Security.
"The High Technology Forum will accelerate, elevate and institutionalize a senior-level dialogue to address bilateral high-technology trade, investment and related security issues within the context of our larger strategic relationship," Mancuso said in a statement.
U.S. technology companies, including chip maker Intel Corp., have invested in semiconductor manufacturing and research facilities in Israel.
Observers said closer U.S.-Israeli technology and investment ties may be a result of what Mancuso described as "commendable progress [toward] implementing and enforcing its export control laws."