Israel-Asia Chamber of Commerce Sees Economic Potential in the Philippines


iacc board meetingA

The members of the Israel-Asia Chamber of Commerce (IACC) see the Philippines' business potential as Philippine
Ambassador to Israel Neal Imperial (second from left) highlighted the country's robust economic growth and
investment opportunities in various sectors during the board meeting of the IACC. Also in the photo are
First Secretary and Consul Pamela F. Durian-Bailon,IACC President Ran Cohen, IACC Vice President
and Chairman of the Israel-Philippines Chamber of Commerce Ron Doron
and members of the IACC (from left to right).

30 August 2015, Tel Aviv, State of Israel – Philippine Ambassador to Israel Neal Imperial challenged the Board Members of the Israel-Asia Chamber of Commerce (IACC) to explore the economic opportunities in tourism, trade and investment in the Philippines.

The Philippine Embassy was invited by the IACC Board during its third quarterly meeting on 30 August 2015 in Tel Aviv, to discuss current trade and economic developments in the Philippines. The presentation aimed to increase awareness among Israeli businessmen on the economic opportunities in the Philippines with its strategic location in Asia, critical market access to 100 million consumers, highly skilled workforce, competitive investment incentives, infrastructure development, and first-class lifestyle. It also tackled the establishment of the ASEAN Economic Community and the Philippines' hosting of the Asia-Pacific Economic Cooperation (APEC) meeting in 2015.

Highlighting the Philippines' strong economic performance during recent years as a result of effective reforms and good governance, Ambassador Imperial encouraged the members of the IACC to consider the Philippines as an investment destination and manufacturing platform for ASEAN. "With the Philippines' improved business climate, this is the right time to invest and trade with the country," he said.

Mr. Ran Cohen, IACC President and former Minister of Industry and Trade of Israel, called for closer collaboration between the IACC and the Philippine Embassy in Israel in identifying ways and means, including exchanges of business missions such as the Israeli business delegation to the Philippines which he led in February 2013, to increase the two-way trade and investment between the Philippines and Israel, which stood at USD124.59 million in 2014. The members of the IACC board noted the economic potential of the Philippines and expressed interest in pursuing business opportunities there.--END--