Philippines, Russia business leaders boost ties

MANILA -- Amid the positive developments in the local economy, Filipino business movers on Wednesday strengthened their relationship with their Russian counterparts and urged them to consider economic opportunities in the country.

In a forum in Pasay City, Russian Honorary Consul Armi Lopez-Garcia said an agreement signed last year by the Philippine-Russian Business Assembly (PRBA) and the Russian-Philippine Business Council (RPBC) helped strengthen the economic ties of the two countries.

"The foundation for the strengthening of business relationship is now in place," said Garcia, chairperson of the PRBA.

The PRBA is the principal organization that "drives business relations between the Philippines and the Russian Federation." Its aims include tourism and trade promotion, investments, business matching, business education, and policy-lobbying.

Garcia said the organizations will assist the business sectors of the two countries for them to engage in "very fruitful" relationship.

"We are here to serve you," she told the Filipino and Russian audience.

Meanwhile, Evgenia Konkol, RPBC chairperson, assured that Russian businessmen, some of whom have already local partners, are "ready for cooperation." She added that the trade economic relations between the two countries increase each year.

"We are ready to do everything we could to increase our mutual relations," said Konkol, who is also a tourism company president.

She also said Russian President Vladimir Putin is doing everything he can to create a "powerful and intensive" cooperation between the two nations.

Meanwhile, in order to attract Russian partners and investors, Board of Investments Assistant Secretary Fe Agoncillo-Reyes of the Department of Trade and Industry briefed the Russian audience regarding the present economic climate in the Philippines.

Reyes presented the "magical indicators" of a growing Philippine economy, which include the country's strong performing stock market, steady export growth, efficient revenue collection, improving global competitiveness ranking, and the continuous remittances inflow of overseas Filipino workers.

She also cited as an economic advantage the rich talent pool in the Philippines.

Reyes also revealed the country's investment priorities including agriculture, shipbuilding, energy, infrastructure, research and development, hospital and medical services, and tourism.

"Invest in the Philippines. Your business, our people," she concluded.

Garcia, on the other hand, cited the importance of tourism along with culture as "entry points" for economic growth.

"We are ready to move forward from tourism to trade development and investment," she said. (Emmanuel Louis Bacani/Sunnex)