[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 383 Agreed to Senate (ATS)]

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114th CONGRESS
  2d Session
S. RES. 383

    Recognizing the importance of the United States-Israel economic 
         relationship and encouraging new areas of cooperation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 1, 2016

Mr. Perdue (for himself, Mr. Tester, Mr. Coons, Mr. Isakson, Mr. Rubio, 
Mr. Kaine, Mrs. Boxer, Mr. Kirk, Mr. Wyden, Mr. Inhofe, Mr. Peters, Mr. 
 Casey, Mr. Cruz, and Ms. Collins) submitted the following resolution; 
        which was referred to the Committee on Foreign Relations

                             March 16, 2016

               Reported by Mr. Corker, without amendment

                             April 27, 2016

      Considered, amended, and agreed to with an amended preamble

_______________________________________________________________________

                               RESOLUTION


 
    Recognizing the importance of the United States-Israel economic 
         relationship and encouraging new areas of cooperation.

Whereas the deep bond between the United States and Israel is exemplified by its 
        many facets, including the robust economic and commercial relationship;
Whereas, on April 22, 2015, the United States celebrated the 30th anniversary of 
        its free trade agreement with Israel, which was the first free trade 
        agreement entered into by the United States;
Whereas the United States-Israel Free Trade Agreement established the Joint 
        Committee to facilitate the agreement and collaborate on efforts to 
        increase bilateral cooperation and investment;
Whereas since the signing of this agreement, two-way trade has multiplied 
        tenfold to over $40,000,000,000 annually;
Whereas Israel is the third largest importer of United States goods in the 
        Middle East and North Africa (MENA) region after Saudi Arabia and the 
        United Arab Emirates, despite representing only 2 percent of the 
        region's population;
Whereas nearly half of all investment in the United States from the MENA region 
        comes from Israel;
Whereas Israel has more companies listed on the NASDAQ Stock Exchange than any 
        other country except for the United States and China;
Whereas, in 1956, the United States-Israel Education Foundation was established 
        to administer the Fulbright Program in Israel, and has facilitated the 
        exchange of nearly 3,300 students between the United States and Israel 
        since its inception;
Whereas the United States-Israel Innovation Index (USI3), which was developed by 
        USISTF to track and benchmark innovation relationships, ranks the United 
        States-Israel innovation relationship as top-tier;
Whereas, since 2011, the United States Department of Energy and the Israeli 
        Ministry of National Infrastructures, Energy and Water Resources have 
        led an annual United States-Israel Energy Meeting with participants 
        across government agencies to facilitate bilateral cooperation in that 
        sector;
Whereas, in 2012, Congress passed and President Barack Obama signed into law the 
        United States-Israel Enhanced Security Cooperation Act of 2012 (Public 
        Law 112-150), which set United States policy to expand bilateral 
        cooperation across the spectrum of civilian sectors, including high 
        technology, agriculture, medicine, health, pharmaceuticals, and energy;
Whereas, in 2013, President Obama said in reference to Israel's contribution to 
        the global economy, ``That innovation is just as important to the 
        relationship between the United States and Israel as our security 
        cooperation.'';
Whereas, in 2014, Secretary of the Treasury Jacob Lew said, ``As one of the most 
        technologically-advanced and innovative economies in the world, Israel 
        is an important economic partner to the United States.'';
Whereas the 2014 Global Venture Capital Confidence Survey ranked the United 
        States and Israel as the two countries with the highest levels of 
        investor confidence in the world;
Whereas, in 2014, Congress passed and President Obama signed into law the United 
        States-Israel Strategic Partnership Act of 2014 (Public Law 113-296), 
        which deepened cooperation on energy, water, agriculture, trade, and 
        defense, and expressed the sense of Congress that Israel is a major 
        strategic partner of the United States; and
Whereas economic cooperation between the United States and Israel has also 
        thrived at the State and local levels through both formal agreements and 
        bilateral organizations in over 30 States that have encouraged new forms 
        of cooperation in fields such as water conservation, cybersecurity, and 
        alternative energy and farming technologies: Now, therefore, be it
    Resolved, That the Senate--
            (1) affirms that the United States-Israel economic 
        partnership has achieved great tangible and intangible benefits 
        to both countries and is a foundational component of the strong 
        alliance;
            (2) recognizes that science and technology innovation 
        present promising new frontiers for United States-Israel 
        economic cooperation, particularly in light of widespread 
        drought, cybersecurity attacks, and other major challenges 
        impacting the United States;
            (3) encourages the President to regularize and expand 
        existing forums of economic dialogue with Israel and foster 
        both public and private sector participation and investment, 
        and remove barriers to, and to provide incentives for, private 
        sector market entry; and
            (4) expresses support for the President to explore new 
        agreements with Israel, including in the fields of energy, 
        water, agriculture, medicine, neurotechnology, and 
        cybersecurity.
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