Makati city: The possibility of a free trade agreement (FTA) between the Philippines and Israel took a significant step forward with the signing of the summary of discussions in Makati City on Tuesday. This development follows the virtual inaugural Philippines-Israel joint committee meeting on July 1, 2025, where trade officials from both nations discussed economic advancements and identified specific actions aimed at enhancing trade cooperation.
According to Philippines News Agency, the signing ceremony held at the Department of Trade and Industry (DTI) office was attended by Trade Secretary Cristina Roque and Israel Minister of Economy and Industry Nir Barkat. Both expressed optimism about the proposed FTA, highlighting the mutual benefits for the two countries. However, they refrained from providing detailed insights as the agreement is still in the exploratory stage, with consultations with stakeholders expected to commence soon.
Secretary Roque emphasized the potential advantages the Philippines could gain from Israel's technological innovations in agriculture. "We hope that we can push for the free trade agreement right away," she stated. Minister Barkat conveyed that having an FTA with the Philippines is not a major concern for Israel, as they currently maintain 12 existing agreements with other nations. "Not much an issue for us," he commented.
Recent high-level economic discussions have also focused on enhancing private sector involvement in joint development projects within agriculture, including areas such as irrigation, climate-adapted crop varieties, livestock complexes, and small greenhouses. Trade Undersecretary Allan Gepty mentioned that the potential exclusion of agriculture as a concession in the FTA is still under consideration.
Minister Barkat expressed Israel's interest in exporting technology that could improve agricultural yields and boost the gross domestic product (GDP) of the Philippines. The collaborative effort between the two countries aims to capitalize on their respective strengths to foster economic growth and development.
