Accession of the Czech Republic to the European Union followed by accession to ASEM in 2004 represent two important milestones in economic relations between the Republic of the Philippines and the Czech Republic

In spite of the fact that the economic relations and trade between the Republic of Philippines and the Czech Republic have about 50 years´ long tradition the year 2004 was nevertheless marked by two important events i.e. by the accession of the Czech Republic to the European Union on May 1, 2004 and also to ASEM in October 2004. Both events open more the door for Philippine business community into the Czech Republic and to all members of the European Union.

Continuous Oficial Development Assistance of the Czech Republic to the Philippines

The bilateral economic co-operation is not limited only to business of private companies. The Government of the Czech republic has been granting the Philippines Official Development Assistance for the projects of

- Supply and commissioning of three water treatment plants in Baguio City by the

Consortium of Czech Companies headed by INKOS Brno, ASAZ Invest Group, GEOtest Brno and Strojírny (Machinery works), Brno ,

- supply and commissioning of mini Hydro-power plant in San Luis, Aurora Province by Strojírny Brno and GEOtest, Brno .

Other projects in the frame of continuous ODA particularly in the field of mini Hydro-power plants are being discussed also in 2005.

The establishment of the The Philippine-Czech Business Council by the end of 2002 and its activity plays also an important role in strengthening mutual economic relations and expansion of business contacts. More and more Philippine businessmen visit Czech Republic and study possibilities for mutual trade.

Philippine exports to the Czech Republic are represented mainly by special electronics components, ready garments, furniture, tropical fruits and agricultural products. The Philippine supplies of electronic components which are used for the assembly of electronic devices and consecutively exported from the Czech Republic are also important for the employment in the Czech industry.

For any further information about trade opportunities and investment in the Czech Republic kindly contact:

Commercial and Trade Section

Embassy of the Czech Republic

Rufino Pacific Tower , 30 ^th floor,

Ayala Avenue 6784

Makati City, Metro Manila

Tel.: + 632 811 1155

Fax: + 632 811 1020

E-mail: Commerce_Manila@mzv.cz