Czech Prime Minister Petr Fiala’s 10-day tour of six Asian countries underscores the importance of economic cooperation between the Czech Republic and the Indo-Pacific and Central Asian regions. Fiala’s focus on supporting Czech companies in the aviation, defence, food, digitization, construction, and oil sectors during his visit to the Philippines, Indonesia, Singapore, Vietnam, Kazakhstan, and Uzbekistan will promote business and strategic interests for the Czech Republic. The economic significance of the Indo-Pacific region, the fastest-growing region in the world, cannot be overstated. The Czech Republic’s engagement in these countries and support of its companies there can strengthen its position in foreign trade, especially as China seeks to expand its economic influence globally. By seeking out new markets in these regions, the Czech Republic can diversify its export destinations and reduce its reliance on traditional European Union trading partners. Fiala’s visit is also an opportunity to enhance diplomatic ties and promote people-to-people exchanges between the Czech Republic and these countries. The negotiations with local firms on investments, cooperation in science and research, and deliveries of Czech trains and trams in Central Asian countries reflect the Czech Republic’s commitment to forging long-term partnerships in these regions. To fully capitalize on the economic potential of these regions, state support for Czech export companies is crucial. As Fiala noted, such support is essential not only in Asia but also globally. The government can provide assistance in accessing new markets, negotiating trade agreements, and addressing regulatory barriers to trade. The Czech Republic’s proactive engagement in the Indo-Pacific and Central Asian regions demonstrates its commitment to becoming a global player and seizing new opportunities in emerging markets. By prioritizing economic cooperation with these countries, the Czech Republic can strengthen its economic competitiveness and contribute to regional and global development.

Article by Prague Forum