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The Philippines and Israel outlined key areas of future economic cooperation, with focus on agriculture, innovation, start-ups, cybersecurity, and trade and investment promotion
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The focus areas were part of the Summary of Discussions signed on July 29 following the inaugural Philippines-Israel Joint Committee Meeting held on July 1
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DTI said the high-level meeting provided a platform for discussions on a wide range of topics including economic developments, trade and identification of concrete actions to further strengthen economic cooperation
The Philippines and Israel have outlined key areas of future economic cooperation, with focus on agriculture, innovation, start-ups, cybersecurity, and trade and investment promotion and facilitation following a recent bilateral meeting.
These focus areas were part of the Summary of Discussions that was signed on July 29 following the inaugural Philippines-Israel Joint Committee Meeting held on July 1, the Department of Trade and Industry (DTI) said in a statement.
Joined by senior officials and ambassadors from both countries, DTI said the high-level meeting provided a platform for discussions on a wide range of topics including on economic developments, trade and identification of concrete actions to further strengthen economic cooperation.
“This meeting reflects the enduring economic partnership between the Philippines and Israel,” Trade Secretary Ma. Cristina Roque said.
“We are aligning our priorities in areas of mutual interests that will support the next phase of our countries’ sustainable and secure growth,” Roque added.
On agriculture, discussions centered on strengthening private sector participation in collaborative development projects. Key areas explored included innovative irrigation, the introduction of climate-adapted crop varieties, and the establishment of livestock complexes and smart greenhouses. Discussions also covered sharing expertise in agrotechnology and adapting modern, resource-efficient water and land management systems.
Another key discussion point was technological innovation, research and development (R&D). Both sides aim to facilitate the implementation of the Agreement on Cooperation in Technological Innovation, Research and Development, signed in June 2022. This includes pursuing R&D and pilot projects through joint calls for proposals, and supporting these efforts through the exchange of experiences, best practices, and knowledge on startup development.
With the growing importance of digital connectivity, cybersecurity also emerged as an important focus of the meeting. Both sides expressed willingness to collaborate through discussions, information-sharing, and capacity building in a number of areas. Apart from these, both sides also expressed their interest in exploring areas of cooperation in intellectual property, training and development, customs and trade promotion.
DTI said the bilateral meeting and signing of the Summary of Discussions mark a step forward in the Philippines-Israel economic partnership, setting the stage for practical actions and continued dialogue in advancing mutual economic goals.
