The Daily Tribune
Philippines, Israel eye closer economic ties
The Philippines and Israel are working towards closer economic ties, aiming to finalize a free trade agreement (FTA) and boost cooperation in tourism, investments, and innovation.
Israeli Minister of Economy and Industry Nir Barkat and DTI Secretary Cristina Roque discussed the potential FTA, with Barkat expressing a goal to reduce taxes between the two nations to zero.
Barkat identified tourism as a significant area for growth, noting that only 14,000 Israelis visit the Philippines annually, compared to over 250,000 who go to Thailand.
He emphasized that establishing direct flights between the two nations would significantly boost tourism and people-to-people exchanges.
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