The Czech Republic’s prime minister, Petr Fiala, is set to visit several Asian nations as part of a bid to diversify trade ties and counterbalance China’s influence in global markets. The itinerary includes stops in Vietnam, Indonesia, Kazakhstan, Singapore, Uzbekistan, and the Philippines, according to reports from TASS quoting a European official.
Accompanying Fiala will be a delegation drawn from Czech business circles. The purpose, as stated by the prime minister, is to explore expanded trade and economic cooperation with these countries, which are looking to deepen commercial ties with the Czech Republic.
“We are heading to places that are ready to cooperate with the Czech Republic. These are countries that can help balance China’s dominance in world trade,” Fiala explained. He added that Europe as a whole should actively pursue these new market opportunities to secure alternative outlets for trade and investment.
The schedule for the Asian leg of the visit spans seven days, with Manila identified as the initial stop of the tour.
In related economic news, a compact briefing from April reported that Chinese authorities are exploring the creation of a secondary economy that reduces reliance on the dollar. The plan envisions increasing transactions in the yuan and in local currencies of developing nations as part of broader financial reform and regional integration.