A BUSINESS mission from the Philippines led by the Department of Trade and Industry’s Export Marketing Bureau (DTI-EMB) conducted an export and investment road show in Israel from November 6 to 13 to promote trade and investments between the two countries.
The 14-member delegation, headed by Assistant Secretary Rafaelita M. Aldaba of the DTI’s Industry Development and Trade Policy Group (IDTPG), was composed of 11 companies from the food, electronics, information technology and trading sectors of the Philippines.
Aldaba was joined by Agnes R. Legaspi, assistant director of DTI-EMB; and Rafaelita C. Castro, DTI-EMB’s market innovations division chief.
The road show started with a meeting with the Jerusalem Chamber of Commerce on November 7 for a business presentation before the business community in Israel.
“This event is a milestone in improving the bilateral trade relationship between Israel and the Philippines. The Jerusalem Chamber of Commerce will serve as a bridge for a reliable friendship and business relationship between Israel and the Philippines,” said DrorAtari, president of the Jerusalem Chamber of Commerce.
The business-to-business meetings conducted were followed by a briefing on Kosher certification of food products conducted by Rabbi Kaz to provide the Philippine food exporters with information useful to their expansion to the Israeli mainstream market.
The second leg of the mission was a presentation before the Haifa Chamber of Commerce on November 8. David Castel, president of the Haifa Chamber of Commerce, conveyed that the Chamber welcomed a new business relationship with the Philippines. Haifa is the second largest city in Israel.
On November 9 Philippine companies had 35 business-to-business meetings organized by the Federation of Israeli Chambers of Commerce.
Aldaba encouraged business people in Israel to explore the Philippine business environment, indicating that the Philippines is now one of Asia’s brightest spots for investment in view of its stable macroeconomic fundamentals, consistently high GDP growth rate and resurgent manufacturing sector.
Itamar Gero, president of the Israel Chamber of Commerce in the Philippines, indicated that now is the time to see the business and investment opportunities in the Philippines.
“While the country is still evolving, this is the best time to search for opportunities in doing business,” Gero said.
Philippine Ambassador to the State of Israel Neal Imperial explained there is a need to change Israel’s perception of the Philippines.
“As one of the fastest-growing economies in the world in the last seven years, the Philippines should be viewed by Israeli business no longer as an economic laggard, but as a prime investment destination and a source of high-quality exports,” he said.
The delegation also visited the Technion University in Haifa, one of the top 10 leading universities in science and technology research as well as Filipino and Asian stores in Tel Aviv. The delegation concluded their visit with a briefing at the Haifa Economic Corp. which develops large-scale investment projects in Haifa.