Philippines-Israel free trade deal possible, says DTI chief

Jekki Pascual, ABS-CBN News

Posted at Aug 04 2022 12:12 AM

MANILA—The Department of Trade and Industry (DTI) is eyeing more Free Trade Agreements (FTA) with many countries. 

At the sidelines of the Israel Chamber of Commerce of the Philippines meeting in Makati City on Wednesday, Trade Secretary Alfredo Pascual hopes the newly signed Investor Promotion and Protection Agreement between the two countries will eventually start talks on a potential FTA.

"Everything's possible," said Pascual on the chances an FTA with Israel will be discussed.

twitter IMG

Currently, trade between the two nations is growing and there is more room for further investments, particularly in the field of technology, cybersecurity, and agriculture, he said. 

"We look at Israel more as a source of technology products and technology systems. I think given that we are producers of agricultural products, we can potentially and maybe now we are already exporting agri products to Israel," said Pascual.

Besides Israel, Pascual said an FTA with South Korea may be signed by November. This may expand the reach of many Philippine agricultural products, including bananas.

twitter IMG

Pascual also wants to start talks for an FTA with the United States and the European Union (EU). 

"Wala pa tayo FTA sa US. Wala pa tayo FTA sa EU. Samantala, mga neighboring countries natin nakaka-15 na or more, tayo I think around 10," said Pascual.


Watch more News on iWantTFC