Israel, Philippines deepen economic cooperation

ISRAEL and the Phi­li­ppines strengthened their economic partner­ship during the economic-political vi­sit of Israeli Minister of Economy and Industry Nir Barkat, marked by a business forum and gala event in Manila that brought together senior government officials and leading industry players from both countries.

The event was attended by senior offi­cials from both countries, Israel Ambassador to the Philippines Ilan Fluss, Philippine Ambassador to Israel Aileen Mendiola, Secretary of Economic Deve­lopment of the Philippines Arsenio Balisacan and senior officials namely Director General of the Ministry of Economy and Industry, Moti Gamish, senior officials of the Philippine government and senior representatives from the local business market. Representatives of leading innovation companies from the fields of smart agriculture, the food industry, energy, water and infrastructure took part at the event. As part of the forum, dozens of business-to-business (B2B) meetings were held and laid the foundation for large-scale commercial cooperation.

Minister of Economy and Industry, MK Nir Barkat said, “The State of Israel Bringing the best of innovation, entrepreneurship and technology to the table. The Israeli delegation was composed of Israeli companies in the agrotech and foodtech sectors, mainly in the areas of food security, renewable energy and water management – areas that are of critical importance to the future of the region and the companies have aroused great interest in the Philippines. The collaborations we are promoting here are part of the national effort to increase Israeli exports to a trillion dollars per year.”

Officials from both countries reaffirmed their commitment to continued economic exchange during a diplomatic and business mission in Manila. PHOTO FROM MINISTER OF ECONOMY AND INDUSTRY

The Israeli delegation includes leading companies including Netafim, Haifa Group, Metzer, Agrotop, BERMAD, Raphael Valves, Plasson, Reshef Aviation, Innovative Agro Industry and Top Greenhouses — companies that represent Israeli innovation in agriculture and industry.

The visit also included meetings with senior government officials, visits to agricultural and industrial development sites throughout the Philippines, and laying the foundations for future cooperation agreements.

The Philippines, a country with over 115 million people, a member of Asean and a growing economy, has become a strategic partner for Israel in recent years. In 2022, Israeli exports to the Philippines reached a record of $341 million, and the trend continues consistently.