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Manila Bulletin devider Philippines devider National devider Marcos optimistic about boosted bilateral trade with Czech firms

Marcos optimistic about boosted bilateral trade with Czech firms

Published Mar 14, 2024 01:32 pm

At A Glance

  • Marcos said he and Pavel explored opportunities for future partnerships in trade and investment, agriculture, green economy and renewable energy, space and aerospace, education, tourism, defense, cybersecurity, and labor, among others.

PRAGUE, Czech Republic — President Marcos expressed confidence that Manila will be able to attract more Czech traders and investors to do business with the Philippines as a result of increased engagement between their respective business sectors.

President Ferdinand ‘Bongbong’ Marcos Jr. (Yummie Dingding/PPA Pool)
President Ferdinand ‘Bongbong’ Marcos Jr. (Yummie Dingding/PPA Pool)

Marcos said this following his tete-a-tete with Czech President Petr Pavel at the Prague Castle here on Thursday morning (Prague time).

In his remarks during their joint press statement, the President said he and Pavel explored opportunities for future partnerships in trade and investment, agriculture, green economy and renewable energy, space and aerospace, education, tourism, defense, cybersecurity, and labor, among others.

They also discussed the large potential in increasing the bilateral trade between the two countries.

"I highlighted the Philippines’ remarkable economic performance, making it an attractive destination for Czech investments in the areas of IT-BPM, electronics, manufacturing, food and agriculture, and automotive / EV manufacturing, among others," he said.

"We look forward to the convening of the second meeting of the Philippines-Czech Republic Joint Committee on Economic Cooperation (JCEC) in Manila later this year," he added.

Labor and people-to-people

President Marcos said the Philippines is ready to work with the Czech government in ensuring the protection of Filipinos in the Czech Republic as he noted its announcement that it has increased its quota for Filipino workers from 5,500 per year from January 2024 to 10,300 per year starting May 2024.

"The Philippines stands ready to cooperate with the Czech Republic in ensuring the protection of the rights and well-being of overseas Filipinos," he said.

Both leaders witnessed the signing of a joint communique on the establishment of a labor consultations mechanism during President Marcos' visit to Prague on March 14.

The said mechanism aims to enhance cooperation between both countries for the safe and orderly migration of Filipino workers and to provide higher protection of their rights and welfare.

There are approximately 7,000 Filipinos in the Czech Republic.

Warm ties

Meanwhile, President Marcos noted that while the Philippines and the Czech Republic have been enjoying warm ties over the past five decades, exploring the potential of their relationship is just beginning.

"Our countries have been enjoying warm and friendly relations for the past five decades. Nevertheless, we are only just beginning to appreciate the huge potential of our cooperation in various areas of mutual interest," he said.

The Philippines and the Czech Republic marked 50 years of diplomatic ties in 2023.

Related Tags

Bongbong Marcos PBBM in Europe President Marcos PH-Czech Republic
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