PH, Czech sign cooperation pact

MANILA, Philippines – The Philippines and Czech Republic have signed a cooperation pact covering political and economic partnerships.

The Department of Finance (DOF), represented by its secretary Cesar Purisima, signed a Memorandum of Cooperation (MOC) with the Czech Republic Finance Ministry led by minister Miroslav Kalousek last week, according to a statement released by DOF on Thursday, April 4.

Purisima said that the partnership, inked during his trip to the Czech Repulic, is a major step in deepening diplomatic relations between the two nations.

“The Czech Republic has derived great economic wisdom from its history, and we are honored to have their Ministry of Finance agree to this memorandum to share their knowledge and experience with us,” he said.

The MOC sketches a guideline for the partnership of the two government agencies, with the Czech Finance Ministry assisting the DOF in areas of economic transition, reform processes and interpretation of the EU aquis or the body of the European Union Law.

It will also lay the foundation for the increased cooperation of the two agencies in the administration of public finances.

The assistance will be in the form of study visits, seminars and workshops, among others.

The cooperation pact will be executed by the International Finance Group (IFG) of the DOF and the Department of International Relations of the Czech Repulic.

The Philippines and the Czech Republic are celebrating the 40th anniversary of their diplomatic relations this year, 2013. – Rappler.com