STOCK PHOTO | USERTRMK/FREEPIK
SLOVAKIA is aiming to expand ties with the Philippines following the establishment of its official embassy and a distribution partnership with a major automotive maintenance supplier.
Power Stroke Motor Products Corp. and the Slovakia-based company PowerXtender, on Saturday launched a cooperation supplying local automotive providers with a liquid additive that extends car batteries’ lifespans.
Juraj Blanár, minister of Foreign and European Affairs of Slovakia, told BusinessWorld on the sidelines of the launch that the company is ready not only to sell its products but also to transfer its technology.
Joselito R. Tulao, general manager of Power Stroke,
Joselito R. Tulao, general manager of Power Stroke, said the partnership is an opportunity to bolster bilateral relations between the two countries, with Slovakian products being relatively unknown in the Philippines.
Mr. Tulao said PowerXtender is just the start of long-term Philippine-Slovak investment and partnership, with Juliana Holdings, Inc. ready to support them in other industries beyond the company.
Asked how the partnership can expand beyond distribution, Mr. Blanár said Slovakia also wants to establish people-to-people and academic cooperation with Manila. The exchange of views, research, and workers are among the priorities of Bratislava.
NUCLEAR ENERGYHe said nuclear energy is also one
NUCLEAR ENERGY
He said nuclear energy is also one such opportunity since Slovakia is a leading country in producing nuclear electricity, with about 75% of their electricity coming from reactors.
“We can offer you our expertise,” he said. “We can exchange our engineers. We can offer the laboratories we have with the decommissioning of the fuel and so… that’s another part of future cooperation on the really sophisticated technology we have.”
Philippine-Slovak trade only amounts to about €80 million (P5.65 billion), which is only a small portion of the Philippines’ economy, Mr. Blanár said, noting the cooperation is still in its early stages.
Philippine external trade breached $24.90 billion (P1.59 trillion) in September.
Ma. Ella C. Oplas, an economics professor
Ma. Ella C. Oplas, an economics professor at De La Salle University, said partnering with Slovakia creates a new market and opportunities to explore trade with the European Union (EU). Although local companies still need to study regulations, product certification, consumer preferences, and distribution networks as standards are really high.
The Philippines would act as a strategic market and distribution hub for Slovakian innovations in Southeast Asia, she added.
The Philippines likewise supported Slovakia’s accession to the Treaty of Amity and Cooperation in Southeast Asia for the Association of Southeast Asian Nations on Sunday.
I believe competition is good, but it also
“I believe competition is good, but it also pays to diversify,” Ms. Oplas saidady and is not doing us good, it is always to find another partner… it doesn’t have to be always head on… it is also about starting [a]new.”
Mr. Blanár said the republic similarly wanted to diversify trade as about 80% of its current market activity is within the EU, so establishing good diplomatic and political relations to support Philippine businessmen was part of this effort.
