Outgoing Vice President Leni Robredo has expressed her gratitude to Israel Ambassador to the Philippines Ilan Fluss for the signing of agreements that will enhance the economic cooperation between the two nations.
Fluss visited the country’s second highest official at her office at the Quezon City Reception House on Wednesday, June 8.
During the courtesy call, Robredo, in her signature color pink, thanked the Israeli diplomat for the signing of agreements that will further enhance the relations of Israel with the Philippines,” a statement released by the Office of the Vice President (OVP) said on Thursday, June 9.
This came after the Philippines and Israel signed this week the Investment Promotion and Protection Agreement (IPPA) and launched the Joint Economic Commission (JEC) and cooperation agreement with the Israel Innovation Authority.
The IPPA covers the investment protection elements, such as national treatment, most favored nation treatment, free transfers, rules-based expropriation and compensation, and investor-state dispute settlement.
The agreement provides opportunities for the two countries to improve cooperation in the following industries: agro-tech, life sciences and healthcare, water technologies, high-technology and semiconductors, cybersecurity, financial technology, defense industry, smart transportation, clean technology, smart manufacturing, and the diamond industry.
Aside from highlighting the importance of economic cooperation in these industries, Robredo also thanked Fluss for Israel’s support during the Covid-19 pandemic.
The two officials also discussed common concerns between the countries, such as agriculture, water management, and innovation.
Robredo is currently preparing to end her term after she lost the presidential race to President-elect Ferdinand Marcos Jr. She will step down from office at noon on June 30.