The Czech Republic and the Republic of the Philippines hereinafter referred to as the Contracting Parties;

Desiring to intensify economic cooperation between both States;

Intending to create favorable conditions for investments by investors of one Contracting Party in the territory of the other Contracting Party and to increase prosperity in their respective territories;

Recognizing that encouragement and protection of such investments will benefit the economic prosperity of both States;

Have agreed as follows: