Israel will continue to expand its global partnerships, including its trade ties with the Philippines, despite the political and security challenges it has been facing, Israel Minister of Economy and Industry Nir Barkat said.
Barkat issued the statement following the conclusion of the Joint Committee (JC) meeting between him and Secretary Cristina Roque of the Philippine Department of Trade and Industry (DTI), in Makati City, on Tuesday.
Barkat said he could see Philippine exports to Israel dramatically increasing, adding it would be “sky’s the limit” in terms of potential Israeli investments in the country.
Barkat added Israel could provide the Philippines with much-needed technologies that increase yield, productivity and the ability to produce food.
Roque and Barkat agreed to explore a possible free trade agreement between the Philippines and Israel to deepen the two countries’ economic ties that will likely prioritize agriculture, innovation, startups, and cybersecurity.
The DTI said the JC meeting, which concluded with the signing of the Summary of Discussions, “marks a first step forward in the Philippines-Israel economic partnership setting the stage for practical actions and continued dialogue in advancing mutual economic goals.”
The Summary of Discussions focused on trade and investment promotion and facilitation, especially in the sectors of agriculture, innovation, startups, and cybersecurity.
“Israel went through a tough time the last two years, when we were brutally attacked by Jihadi terrorists that want to kill us, wipe us off the map and we are overcoming those challenges. Israel is only 10 million people. We know how to defend ourselves well. Our heart is still in the dungeons. With the 50 hostages that we still have in the tunnels of Gaza, we need to return them all back home. Yet on one hand, we know how to defend ourselves, and on the other hand, we know how to expand our global partnerships,” Barkat told a press briefing on Tuesday.
The Israeli minister said because of the good people-to-people and government-to-government relationship between the Philippines and Israel, “many opportunities will open up for more and more businesses.”
“I’m here very optimistic as to the future of the two nations,” Barkat said.
Barkat said with the planned FTA between the two countries, “we can anticipate that exports from the Philippines to Israel will dramatically increase, because it’s going to be worthwhile.”
