The leadership of the International Chamber of Commerce (ICC) in the Philippines is optimistic that the ongoing crisis in Gaza will not have a significant impact on the trade relationship between the Philippines and Israel, although a temporary slowdown in the exchange of goods is anticipated.
In a recent interview, Jesus Varela, the Director General of ICC Philippines, emphasized the resilience of the Manila-Tel Aviv trade relationship, which has strengthened over the years.
He also noted the presence of Israeli companies in the Philippines’ technology sector and expressed confidence in the future of bilateral economic activity. ICC Philippines is actively communicating with representatives of the Israel Chamber of Commerce of the Philippines, further bolstering expectations of continued economic cooperation.
In 2022, bilateral trade in goods and services between the two countries exceeded USD 534 million, marking a historic high in their 65-year trade relations. Varela expressed hope for a swift resolution to the crisis and called for international intervention to prevent its escalation into neighboring countries, as this could lead to more severe global economic repercussions.
Varela also expressed concerns about the potential impact of a prolonged Israel-Hamas conflict on global crude oil prices. He highlighted that conflicts in the region historically make oil markets volatile, leading to higher oil prices, which is unfavorable for all.
While Varela affirmed that existing Israeli investments in the Philippines are secure, he stressed that a prolonged war could pose challenges for the future.
According to a recent report by Israel’s Ministry of Economy and Industry, exports from Israel to the Philippines increased by 94 percent in 2022, amounting to USD 340 million, while imports from the Philippines to Israel grew by 39 percent, reaching USD 193 million in the same year.
The ICC, headquartered in Paris, serves as the institutional representative of 45 million companies across over 170 countries. Its primary objectives are rule setting, dispute resolution, and policy advocacy to facilitate international business transactions.
In a related development, the Trade Union Congress of the Philippines (TUCP) expressed its support for the Marcos administration’s comprehensive approach to ensuring the safety of Filipino workers in Israel. TUCP Vice President Luis Corral noted that while mass evacuations may not be immediately necessary, it is vital for Philippine authorities to solidify contingency plans and establish clear timelines in case evacuation becomes a requirement.
Approximately 30,000 overseas Filipino workers reside in Israel, and their safety remains a top priority, especially for those living near the Gaza conflict zone. (ai/mnm)
EGYPT initiated diplomatic discussions with both Israelis and Palestinians as hostilities in the region escalated on Sunday.
Following a significant attack by Hamas that prompted retaliatory airstrikes from Israel, the Egyptian Presidency disclosed that President Abdel-Fattah al-Sisi had engaged in a telephone conversation with French President Emmanuel Macron to deliberate on efforts aimed at de-escalation.
Egypt, in an official statement, affirmed its commitment to conducting intensive dialogues with Israeli and Palestinian parties, along with engaging regional and international stakeholders, in an effort to quell the current upsurge in tensions. However, specific details regarding these talks were not disclosed.
President Sisi issued a stern warning against allowing the region to descend into a perilous cycle of tension, emphasizing the risk it poses to regional stability and security.
In addition to diplomatic efforts, Egypt urged both Palestinians and Israelis to exercise restraint and prevent further endangerment of civilian lives.
The Israeli Health Ministry reported that Hamas’s extensive rocket attacks and infiltration near the Gaza Strip on Saturday resulted in the tragic loss of over 300 Israeli lives and left more than 1,500 people injured.
In response, Israel launched airstrikes in Gaza, resulting in the casualties of over 230 Palestinians and injuries to hundreds more, as confirmed by the Palestinian Health Ministry.
Israeli Prime Minister Benjamin Netanyahu declared that Israel is now in a state of war with Hamas and subsequently called upon Gaza’s civilian population to evacuate, as the Israeli military was prepared to dismantle “all Hamas hiding places.”
Source Anadulo
(ai/mnm)
MANILA – On Sunday, the Philippine government vehemently condemned the escalating violence in Israel and assured the public that it is in close coordination with the Philippine Embassy in Tel Aviv to ensure the safety of Filipino nationals.
“The Philippines strongly condemns the recent attacks, particularly those targeting civilian populations,” stated the Office of the President. This statement came in response to the sudden assaults launched by the Hamas group against Israelis on Saturday and the subsequent retaliatory actions taken by Israeli forces.
The official statement expressed heartfelt sympathies and condolences to those who have lost family members and loved ones in these recent attacks. Furthermore, it emphasized that the Philippines recognizes the right of states to self-defense in the face of external aggression, as outlined in the United Nations Charter.
In a separate announcement, the Presidential Communications Office disclosed that President Ferdinand R. Marcos Jr. had instructed the government to maintain close coordination with the embassy in Tel Aviv and the Migrant Workers Office in Israel, with the primary aim of assisting Filipinos affected by the ongoing conflict.
Both offices have been tasked with promptly locating and accounting for all overseas Filipino workers (OFWs) and their families residing in Israel. To facilitate communication, the Department of Migrant Workers has established a hotline along with Viber and WhatsApp numbers, which will accept calls and inquiries from OFWs and the Filipino community seeking government assistance.
Call for International Support
Meanwhile, the Israeli Embassy in Manila called upon allied nations to extend their support to Israel and unequivocally condemn the acts of violence.
“In this moment of distress, we urge our friends and allies to stand firmly with Israel and denounce these acts of terror committed by Hamas. We expect the international community and our close allies to condemn terrorism and uphold Israel’s right to defend its citizens,” declared Israeli Ambassador to the Philippines Ilan Fluss during a virtual briefing.
Fluss revealed that the extensive acts of terror have resulted in more than 250 Israeli casualties, with over 1,600 individuals injured and more than 100 Israelis taken as hostages in Gaza.
“Hamas continues to launch rocket attacks into Israel. This terrorist organization has infiltrated our cities and residential areas, deliberately targeting innocent Israeli citizens, including the elderly, women, and children,” he pointed out.
Fluss clarified that while there have been reports of foreign nationals being held hostage, it remains uncertain if Filipinos are among them.
“Israel remains under attack. Terrorists are still active in the southern part of Israel, and the Israeli Defense Forces are engaged in ongoing efforts to regain full control of the situation,” he noted.
“I have heard reports about Philippine nationals, but at this stage, we do not have any confirmation regarding their involvement. The situation is still evolving, and we are in the process of gathering information,” he explained.
Fluss underscored that the Israeli Defense Forces are compelled to respond to the attacks by initiating a large-scale operation. He emphasized that Israel has the inherent right to protect itself, and it is the government’s duty to ensure the safety of its citizens and foreign residents living in the country.
“We deeply appreciate the messages of support and solidarity that Israel is receiving from our Filipino friends. As we navigate these challenging times, a clear message resounds: Stand with Israel, condemn Hamas’ attacks, and reject terrorism unequivocally,” Fluss concluded.
(ai/mnm)