The 4^th of July is a day of celebration, for the American people, marking the independence of the U.S, and acting as a symbol for the free democratic world, which shares the same values.

On this holiday the American flag with its stars and stripes, flies openly and proudly - reminding those who see it, that America is a free and advanced society; a society that encourages entrepreneurship and innovation, as well as the continuing goal of excellence. America of 2009 strives for better education, a substantial improvement in the healthcare system, creation of new and renewable energy sources as well as a revival in science, technology and inventions.

This day is an opportunity for each and every one of us to contemplate the paths we chose during the last year and to think about the year to come. This year has been, without a doubt, a tough one- for America and for the rest of the world. The financial crisis that erupted in the U.S. economy last summer hit the entire world economy and soon became a global financial crunch.

With crisis, however, comes opportunity and necessity for change. With crisis comes the need to adapt to the new reality- to work towards bettering our society.

We live in times of dramatic changes, in many areas in our lives. The world faces multiple dangers beyond the financial crisis- climate change and global warming, political instability in many countries and extreme terrorism - all issues in which the U.S. still plays a crucial and central role. These concerns are now added to its plate which is already full of domestic issues.

We cannot continue on the same paths we have taken in the past. Individuals, corporations, societies and countries all need to adapt to the new reality, assuming more responsibilities than before. We need to change the way we generate and consume energy, and the way we utilize natural resources.

We need to invest in innovation and technology that will help us deal with these challenges. Many of the traditional industries in the world are transforming themselves through a process that requires fundamental changes. One such example is the collapsing automobile industry that must leap into the next generation of advanced technology- operating on clean electricity instead of the polluting fossil fuel. New industries such as cleantech are emerging, as well as industries that will enable efficient production of desalinated drinking water and many more fields in which we will be able to renew ourselves if we use science and technology wisely.

Amidst the financial crisis, a new administration took office in the U.S,, bringing with it a new spirit of change. Israel must follow the U.S. steps closely and fully comprehend the issues it faces while bravely taking action to recover from the financial crisis and regain dominance in the international arena. We must strengthen our long standing strategic partnership with the U.S., as it is a precious “one of a kind” bond. Israel needs to find its path of integration onto the new economic roadmap designed by the U.S. by increasing its investment in innovation and technology, and allocating more resources to strengthen the educational system.

The Israel America Chamber of Commerce is committed to following this roadmap. Primarily, we must acknowledge that the America-Israel relations should not be taken for granted. We need to continue investing efforts in bringing together businesses, business people, investors, entrepreneurs and strengthen the network of relationships, as well as removing regulatory or bureaucratic obstacles, all in order to actualize their great potential.

President Obama’s stimulus plan, especially with regard to the renewable energy and healthcare systems sectors, provides a unique opportunity for Israeli technologies to expand and penetrate the American market, while creating new partnerships with research institutions, private companies and public organizations, municipalities and regional governments.

We are currently preparing the second bi-national meeting of IACC that will take place in New York on December 3rd, 2009.

The meeting is scheduled to host ministers, government officials, executives, entrepreneurs and investors who will discuss new opportunities for cooperation, as well as the development of new technologies, industries and markets between Israel and the U.S. vis-a-vis the joint economic roadmap. The discussions will focus especially on technological developments in water and energy and developments in Life Sciences. In addition, there will be special sessions dedicated to the media world and a reexamination of the field of investments and global stock markets.

The entire meeting will be framed by an Israeli - U.S mission statement, in which we will encourage the two administrations to utilize and promote our common goals for the improvement of society as a whole.

We take this opportunity to congratulate our American friends and colleagues on their holiday, and express our confidence in the eternal bond between the U.S. and Israel and their mutual prosperity.