Philippines-Czech Business Forum 3/15/2024

Prague, Czech Republic
March 15, 2024
On the final day of his State Visit to the Czech Republic, President Ferdinand R. Marcos Jr. co-leads a Philippines-Czech Business Forum with President Petr Pavel on March 15, 2024.
The two Presidents witness the signing of several Memoranda of Understanding (MOUs), to wit:
•. MOU on Cooperation between the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) and Electrical and Electronic Association of the Czech Republic (ELA)
•. Agreement of Mutual Cooperation between the IT and Business Process Association of the Philippines, Inc. (IBPAP) and the Confederation of Industry of the Czech Republic (SPCR)
•. Agreement of Mutual Cooperation between the Philippine Chamber of Commerce and Industry (PCCI) and the Confederation of Industry of the Czech Republic (SPCR)
In April last year, the Czech-Philippines Business Forum was held in Manila during Prime Minister Petr Fiala’s visit to the Philippines. More than 100 entrepreneurs from both countries participated in the forum that saw Czech companies offering innovative solutions to the Philippines in the fields of aviation, defense, logistics and transport.
The Philippines is one of the Czech Republic’s important trading partners in Southeast Asia. It ranked as the Philippines’ 39th trading partner, 28th export market and 47th import supplier in 2022, with total bilateral trade amounting to US$303.21 million.
Among the Philippines’ top exports to the Czech Republic are storage units, semiconductor devices manufactured from materials on consignment basis, digital monolithic integrated circuits, other sports footwear with outer soles of rubber or plastic, electrical and electronic machinery, and equipment and parts.
Likewise, Czech companies have a long history in the Philippines, with the shoe company Bat’a opening its factory in the country around 90 years ago. Trams being used in the Metro Rail Transit Line 3 (MRT 3) are Czech made, making it a part of the Filipino commuter’s daily travel in the National Capital Region (NCR) or Metro Manila.
The first part of today’s business forum highlights the two speeches of President Marcos Jr. and President Pavel, to be followed by industry presentations from both nations and business matching/networking after the Presidents depart the main program.
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