“Meetings of business partners, such as today’s, create the precondition for future business cooperation.Czechia is a strong economy with a significant industrial tradition and we see the Philippines as a dynamically developing economy with many opportunities for mutual cooperation,” said Deputy Minister Marian.

Presidents Pavel and Marcos, as well as all the other participants of the Forum, were present at the Czernin Palace for the signing of Memoranda of Cooperation between the Confederation of Industry of the Czech Republic and the Philippine Chamber of Commerce and Industry, the Electrical and Electronic Association of the Czech Republic and the Semiconductor and Electronics Industries in the Philippines Foundation, Inc., and between the Confederation of Industry of the Czech and the IT and Business Process Association of the  Philippines, Inc.

The participants agreed that this forum would help strengthen mutual business relations. The Philippines has managed to regain its reputation as one of the fastest growing economies after the downturns of Covid pandemic. Continued urbanisation, a growing middle class and a large population with an average age of 25 years provide the basis for the growing purchasing power of the country’s population, and the government’s planned large-scale investments in infrastructure are a significant source of GDP growth. All this opens up opportunities for Czech companies to enter the Philippine market and for the development of mutual trade between the two countries.

During the business forum, selected Czech and Philippine business institutions were also introduced and at the end of the forum, representatives of companies from both countries could discuss in B2B meetings.

Source