Czech Republic and Philippines signed deals on expanded trade cooperation

On 28.-29. March 2019 in Prague was held the first Joint Economic Consultations hosted by Czech Ministry of Industry and Trade. Representatives from both sides have signed two documents seeking to expand trade cooperation between countries in areas of trade, investment, energy, health and transportation, among others. Czech delegation was represented by Ing. Vladimír Bärtl and Philippine delegation was represented by Ceferino S. Rodolfo.

During the visit of Manila last year, Czech Deputy Foreign Minister Mr. Martin Tlapa expressed interest to invest – specially in fields of energy, water treatment, transport and agriculture.

Philippines and Czech Republic have both potential in economy cooperation. Philippine Republic is the Christian, relatively stable domocratic state with a lot of human resources. On the other hand, Czech Republic is marked as the most industrialized EU nation, with over 32 percent of its economy formed by industry, mainly from transportation products – cars, trains, trams, buses as well as planes and subways, chemical and medical industries , as well as in defence industry.

Next year – 2020, another Joint Economic Consultations should be held in Manila.