Trade Secretary Ramon Lopez and Czech Ambassador to the Philippines Jaroslav Olša Jr. signed Monday an agreement on economic cooperation to strengthen trade and investment relations between the two countries.
“What we are having here is a milestone between our two countries. The strengths and resources complementarities have long been untapped. It is our desire to be with alternative markets and forge new partnership,” said Lopez.
He cited potentials to cooperate on technology-oriented industries, auto and aerospace parts, electronics, agri-based, energy, transportation and tourism.
“Tourism is the beginning of trade, I say that all the time, because when people come and see how beautiful and interesting things are, they return back and say why don’t you come and do business,” said Olša.
Lopez encouraged the Eastern European country to explore possible cooperation on the development of micro, small, and medium enterprises. He cited other prospects, including food and beverage, agriculture and agri-processing, energy and defense and security solutions.
“I am optimistic that Czech’s industry strengths can be a good start in identifying areas of mutual cooperation,” he added, noting that aerospace development was a viable cooperation area.
The discussions noted that the Philippines could capitalize on Czech’s industry strengths to implement the Manufacturing Resurgence Program and complement activities to address the existing gaps in the implementation of different industry roadmaps.
The Philippines can increase exports of mid-priced apparel to Czech’s rising demand. There is also potential for frozen marine products, dried fruits and vegetables in the Czech market. These products are eligible under the European Union Generalized Scheme of Preferences Plus (EU GSP+) that allows entry of goods at zero percent tariffs.
The two countries can also cooperate on information technology-business processing management, knowledge process outsourcing, processed and specialty food, energy, design-driven products and aerospace aeronautics.