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Manila Bulletin devider devider PH, Czech Republic sign deals on expanded trade cooperation

PH, Czech Republic sign deals on expanded trade cooperation

Published Apr 1, 2019 10:06 pm
By Roy Mabasa Representatives from the Philippines and the Czech Republic have signed two documents seeking to expand trade cooperation between the two countries at the inauguration of the first Joint Economic Consultations (JEC) meeting in Prague. (L-R) Czech Republic flag and Philippine flag (MANILA BULLETIN) (L-R) Czech Republic flag and Philippine flag (MANILA BULLETIN) Trade and Industry Undersecretary Rodolfo Ceferino and Czech Industry and Trade Vice Minister Vladimir Bartl signed a protocol at the conclusion of the two-day consultations and business delegation meetings held at the Philippine Embassy in the Czech capital on March 29. The Czech Ministry of Industry and Trade hosted the historic meeting. In a statement posted on its social media site, the Philippine embassy in the Czech capital said the two consulting sides included in their discussions broad economic areas of trade, investment, energy, health, and transportation, among others. During the meeting, the visiting Filipino officials also took note of the Philippine Regime introduced by the Czech Republic to complement its manpower needs and conducted business-to-business interaction on food and non-food sectors. Apart from the protocol, a Memorandum of Understanding was likewise signed between the Board of Investments (BOI) and its counterpart, the CzechInvest, for mutual cooperation. In July, 2017, both countries signed an Economic Cooperation Agreement (ECA) in Manila, followed by the signing of the Instrument of Ratification by President Duterte on April 3, 2018. The ECA provides for the establishment of a JEC that will serve as a platform to discuss trade, investments, economic cooperation, and other related matters. During his visit to Manila last year, Czech Deputy Foreign Minister for Non-European Countries Martin Tlapa conveyed his country’s interest to invest in the Philippines, specifically in the fields of defense, energy, water treatment, transport, and agriculture. The Czech Republic is hailed 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 defense industry. The Philippine embassy said Manila will play host to the second JEC meeting next year.
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