Philippines: Closer links with Israel potential for fruit export
Israel is being considered as a potential market for several Filipino processed products as well as bananas, pineapple and mango.
In reciprocal fashion Israel is looking to several Filipino companies to contribute to its growing international investment in agriculture and other sectors.
Interviewed at the sidelines of the Philippine-Israel Business Forum held on Wednesday at the DTI International Building, Undersecretary Cristino L. Panlilio of the DTI’s Trade and Investment Promotions Group said the Philippines has the capacity to increase its food exports to Israel, particularly accredited-food items acceptable to the Jewish religion.
The Philippines, he said, can also crack open Israel’s market for fresh fruits, noting that the increasing demand for natural food by the general public in Israel.
“Israel is second in terms of venture capital so the Philippines stand to benefit from Israel. They can also do their research and development here. In terms of R&D over their GDP, Israel is No. 1. They can do it in the Philippines and our engineers and scientists can work under their close supervision,” he said.
Philippines and Israel’s trade cooperation continue to grow but remains minimal in comparison with other countries in Europe and America, according to the Philippine Embassy web site.
Philippine exports to Israel was highest in 2007 at $33,929,631 while imports from Israel reached $248,448,918.
Total trade between the Philippines and Israel in 2007 was the highest in five years with the total amount of $282,378,549.
Source: businessmirror.com.ph