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The Philippines-Czech Republic Joint Committee on Economic Cooperation reconvened late last month to further strengthen economic, trade, and investment relations between the two states
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Last year, trade between the two countries hit $371.2 million, based on data from the Philippine Statistics Authority
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Philippine exports to the Czech Republic totaled $216.2 million with top exports being semiconductor devices, digital monolithic integrated circuits, storage units, and sports footwear, among others
The Philippines-Czech Republic Joint Committee on Economic Cooperation (JCEC) reconvened late last month to further strengthen economic, trade, and investment relations between the two states.
The JCEC meeting was co-chaired by Trade and Industry undersecretary Allan B. Gepty and Ministry of Industry and Trade Director General Eduard Muřický. Officials from the two countries also attended the meeting, including Philippine Ambassador to the Czech Republic Eduardo M. Meñez and Czech Ambassador to the Philippines Karel Hejč.
Gepty said: “We believe that the JCEC offers and opportunity for us to enhance not only our trade and investment relations, but also to achieve more concrete outcomes that would contribute to the sustainable development of our countries.”
Representatives from the private sector of both countries, from electronics, manufacturing, water and waste management, renewable energy, and transportation, also attended the meeting.
Last year, trade between the two countries hit $371.2 million, based on data from the Philippine Statistics Authority.
Philippine exports to the Czech Republic totaled $216.2 million with top exports being semiconductor devices, digital monolithic integrated circuits, storage units, other prepared unrecorded media for sound recording or similar recording of other phenomena, and sports footwear.
Imports, on the other hand, totaled $155 million with airplanes, materials, accessories, and supplies for the manufacture of dice of any material, revolvers, pistols, electrical and electronic machinery, equipment and parts, and chandeliers and other lighting fittings being the top imported goods.
In the last 10 years, the Philippines has mostly maintained a trade surplus with the Czech Republic.
The JCEC is an offshoot of high-level engagements between the two sides.
Czech Prime Minister Petr Fiala visited the Philippines in 2023 as part of the 50th anniversary celebration of diplomatic relations.
In March, this year, President Ferdinand Marcos Jr. visited the Czech Republic, which was followed by Czech Minister of Agriculture Marek Výborný’s visit to the Philippines.
The second JCEC discussed such areas of cooperation as agriculture, manufacturing, health care industry and medical devices, information technology and business process management, aerospace and space technologies, defense, education, labor, and tourism.
