Governor Asa Hutchinson and Arkansas Secretary of Commerce Mike Preston met on Tuesday (June 14th) with Chief Scientific Officer and President of the Israel Innovation Authority Dr. Ami Appelbaum and the Consul General of ‘Israel Southwest Livia Link-Raviv to sign memorandum of understanding (MOU) between Arkansas state and Israel’s Innovation Authority.
Under this agreement, Arkansas and Israel will promote and support cooperation in technological innovation, research and development between companies, corporations, research universities and other entities within their borders.
“This is a mutually beneficial partnership between two leaders in innovation,” Governor Hutchinson said. “The agreement builds on the momentum we have created over the past eight years to develop a technology-based workforce that can meet the needs of a 21st century economy. In addition, this agreement allows us to strengthen the our relationship with a critical ally of the United States. ”
The agreement enters into force immediately.
“Israel is a country with almost no water resources needed for agriculture and no traditional automotive industry, but with a unique successful technological innovation ecosystem, we have created booming sectors of agro-technology and intelligent mobility. Which includes hundreds of companies and startups among the leaders in their respective fields around the world, “said Dr. Appelbaum. “Israel-Arkansas collaboration in these sectors and many others where there is a mutually beneficial synergy will help further develop these fields and help create solutions that are likely to leave their mark around the world.”
Arkansas and Israel will share information on projects that will help develop economic and trade cooperation.
The agreement is based on a relationship between Arkansas and Israel. In recent years, Israel has been a strong trading partner with Arkansas. In 2021, trade between Israel and Arkansas was valued at nearly $ 104 million. Beneficiaries of Arkansas grants from US-Israel binational foundations include the Arkansas Children’s Research Institute, the National Center for Toxicological Research, and the University of Arkansas.
“Israel is one of the most business-friendly, innovative and forward-looking places in the world, and the state of nature is also paving the way for the future of technological innovation,” said Secretary Preston. “Stimulating innovation and growth is a matter of mutual concern for both Arkansas and Israel, making this partnership a natural choice.”