Amid war, Israel affirms trade ties
‘It is a challenge in such a situation but we are doing everything we can to prevent any damage to the economy and we will ensure that trade with the Philippines and other international partners will continue’
Daily Tribune‘It is a challenge in such a situation but we are doing everything we can to prevent any damage to the economy and we will ensure that trade with the Philippines and other international partners will continue’
Ilan Fuss, Ambassador of Israel to the Philippines.
Despite its ongoing war with the Palestinian militant group Hamas, the Israeli government is affirming that its bilateral trade with the Philippines will remain unaffected and is even considering expanding pledges to invest in he country.
In an interview with the Daily Tribune on Monday, Israeli Ambassador to the Philippines, Ilan Fluss, confirmed that all ports of entry and exit in Israel remain open and functional to ensure the continuous development of trade and the economy.
"The Israeli monitoring system is stable, meaning we came into this conflict with lots of foreign currencies on reserve. Generally speaking, it is a responsible economy led by responsible management of the Israeli government," Fluss said.
"It is a challenge in such a situation but we are doing everything we can to prevent any damage to the economy and we will ensure that trade with the Philippines and other international partners will continue," he added.
Bilateral trade
Last June, in the Philippine-Israel economic briefing, no less than Yael Ravia-Zadok, head of the Economic Affairs Division at the Israel Ministry of Foreign Affairs, estimated that the bilateral trade between the two countries is anticipated to hit a whopping $1 billion by next year.
The agriculture sector, water-related technology, tourism, and information and communication technology are among the main areas of increased cooperation, trade, and investments between the two countries.
"Last year, we passed $500 million in bilateral trade and we want to see this expand. You know that my agenda until now is exactly the business and technology areas, but now it includes politics and security. When this is over, we will go back again to promoting healthy exchanges between our countries," Fluss said.
"Israeli technology can benefit a lot here in the Philippines, especially the challenges you have here in the Philippines, it will be relevant," he added.
Investment hub
Israel's position as an investment hub could support the Philippine startup industry through training and guidance that could help provide solutions that address challenges unique to the country.
Last year, Israel logged more than 6,000 active startup companies, which made it a world leader in startups per capita.
Locally, Fluss also disclosed that the Philippines already agreed to further study the viability of adopting the Israeli technology that enables drip irrigation for local rice plants.
Fertigation, an Israeli technology that combines the efficient distribution of plant nutrients through drip irrigation, has been adopted in some local rice areas.
The technology has been gaining popularity among Filipino farmers because it allows them to apply a precise amount of nutrients to their crops while conserving water.
There will be continuity
"We had an experiment on drip irrigation of rice, and if that is successful, there will be a lot that we can do. But at this stage now, we are in a war, we have to fight a war and have our allies support us. The Philippines is part of our allies and we make sure that there will be continuity," the Israeli envoy said.
Relatedly, the Department of Agriculture or DA assured that the conflict between Israel and Hamas would only have a minimal effect on the country's agricultural production.
"The Israel government has been a long-time partner of the DA in various initiatives, particularly in water management and fertilization, and so we hope for the immediate resolution of the conflict in the Middle East," DA Assistant Secretary for Operations Arnel de Mesa said in a statement.
