Prague, Czech Republic
March 15, 2024
Describing the event as a symbol of the burgeoning partnership and shared aspirations between the Philippines and Czech Republic, President Ferdinand R. Marcos Jr. co-led the opening of the Philippines-Czech Business Forum with his counterpart, President Petr Pavel, at the Czernin Palace in Prague.
In his keynote message, President Marcos Jr. highlighted the Philippines’ strategic location, vibrant economy and commitment towards becoming a reliable partner of the Czech Republic in its Indo-Pacific strategy. By working together, the President believes that both nations can achieve their shared goals of stability, economic growth and sustainable development.
“Moreover, we seek the support of the Czech Republic for the resumption of the PH-EU Free Trade Agreement (FTA) negotiations. We believe that the resumption of these negotiations will be a big step in further enhancing our trade relations, with the end view to establish a stable, predictable, and enabling business environment that promotes inclusive and sustainable growth and development,” the President stated.
During the event, President Marcos Jr. and President Pavel witnessed the signing and exchange of three (3) memoranda of understanding (MOUs) in the semiconductor and information technology-business process management (IT-BPM) sectors.
“Furthermore, today’s agreements also signify a very exciting step forward. They embody our commitment to complement our strengths and explore new avenues of cooperation. The expertise of the Czech Republic in minerals processing is of particular interest to us. Hence, we invite Czech companies to invest in the processing of our critical minerals, offering a robust diversification plan that can mitigate the risks of global supply chain disruptions,” the Chief Executive expressed.
This July, the Philippines will welcome Czech companies as it hosts the second Joint Committee on Economic Cooperation (JCEC), providing an important opportunity to deepen dialogue, explore partnerships and foster a conducive environment for business and investment between the two countries.
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