New York City Mayor Eric Adams and Israeli Minister of Economy and Industry Nir Barkat announced the formation of the New York City–Israel Economic Council on Monday, aiming to deepen economic ties and foster innovation between the two governments.

The council, formalized through a nonbinding declaration of intent, is designed to serve as a launchpad for Israeli businesses looking to enter the U.S. market, while encouraging collaboration in sectors such as environmental technology, life sciences, artificial intelligence, fintech, and public safety.

“This agreement will strengthen the unbreakable bond between our two governments and serve as a gateway to opportunity,” Mayor Adams said. “It will help Israeli startups establish a home in the five boroughs, advance cutting-edge innovation, and create jobs right here in New York City.”

The initiative comes as Adams seeks to bolster his economic platform amid growing challenges in his reelection campaign. City Hall described the agreement as a continuation of the long tradition of New York City mayors fostering partnerships with Israel.

Barkat hailed the new initiative as a “tremendous honor,” calling New York “a global hub of innovation, creativity and economic leadership.”

“This agreement will have a very positive impact on Israel’s international exports and provide Israeli companies a stronger presence in the U.S.,” Barkat said. “It reflects a strong vote of confidence in the vitality of Israeli innovation and New York’s unique position as a gateway to global markets.”

The council will also focus on strategic sectors including health tech, defense and public safety, high tech, and agro-food technologies, according to Barkat.

Moshe Davis, executive director of the newly formed mayoral office to combat antisemitism, praised the council as both a strategic move and a moral statement.

“As antisemitism rises globally, New York City is responding with real action,” Davis said. “This collaboration demonstrates that the world’s greatest city stands firmly with Israel and the Jewish people, while driving economic opportunity and technological progress.”

The NYC-Israel Economic Council is expected to begin facilitating exchanges between city officials, business leaders, and innovators from both regions in the coming months.

(YWN World Headquarters – NYC)