JERUSALEM, June 7 (Xinhua) -- Israel and the Philippines on Tuesday signed two agreements in Jerusalem to encourage and protect investments, as well as strengthen economic cooperation, said the Israeli ministries of finance and economy.

       The investment agreement was signed by Israeli Finance Minister Avigdor Lieberman and Philippine Trade Secretary Ramon Lopez.

       It includes regulatory issues, prevention of asset expropriation, free capital flow and advanced protection for the rights of foreign investors in the host country, according to the Israeli Finance Ministry's statement.

       The agreement creates a comfortable investment environment, which encourages economic activity by providing a basket of commitments to investors from both countries, it noted.

       The investment agreement is expected to provide certainty and stability to foreign investors and encourage capital movements between the two countries, it added.

       The economic cooperation agreement was signed by Israel's Economy Minister Orna Barbivay and Lopez.

       Under this agreement, a mixed economic committee will convene once a year, aimed at promoting economic issues and resolving trade barriers, according to the Israeli Economy Ministry.