Israel and Filipino businessmen are urged to improve bilateral economic relations by familiarizing each other beyond the historical and religious sphere but through the promotion of trade and investments in various industries, particularly in high-tech sectors.

Israel ambassador to the Philippines Zvi Vapni said at the inauguration of the Israel Chamber of Commerce of the Philippines noted the poor level of trade between the two countries as he urged both Filipino and Israeli businessmen to do business.

“There is something missing in our relationship “business,” said Vapni as he urged Filipino businessmen to, “Visit Israel not just for history or religious purposes but because it is worth doing business with us.”

Trade and Industry Senior Undersecretary Thomas G. Aquino said in a speech at the ICCP inauguration also equally stressed the need for more collaboration between the two sides.

“There is still so much that can be done in our bilateral relations,” Aquino said.

Aquino noted that Israel is the Philippines fourth biggest trading partner in the Middle East region but the level of trade needs further improvement.

He said that both countries can go beyond the current items that they export and import from each other to include new high-tech sectors and even in the BPO sector and tourism.

The Philippines exports food, handicrafts and garments among others while Israel’s exports to the Philippines include electronics and chemicals.

Israel ranks third among 160 countries in quality scientific research institutions. At least 48 percent of its economy is driven by high-tech industries that makes them excel in telecommunications, software, disk security, electronics, biotechnology, medical equipment, homeland security, Internet and nanotechnology.

Although Israel, which has a population of only 7 million, is located in a fairly poor region, it has attained a developed country status with a per capita income of $28,870 way above its neighbors.

ICCP president Isidor Gilan said that Israel businessmen are interested in forging businesses with Filipinos including tourism, trading of consumer products, high-tech industries, cosmetics, IT and telecommunications.

Gilan said that ICCP is even planning of conducting at least two trade missions to Israel within the year.

“We should be able to raise the level of trade as we discover many opportunities in various areas,” Gilan said.

The Philippines should also take advantage of Israeli tourists, who used to flock to Thailand.