“The development and strengthening of trade and economic cooperation between Russia and the ASEAN countries is one of the priority areas of foreign economic activity of the Chamber of Commerce and Industry of the Russian Federation,” Deputy Director of the Department of Foreign Relations Elena Medvedeva emphasized on May 26 in her welcoming speech to the participants of the seminar “Philippines: Digital Bridge to ASEAN and the Whole World."
Currently, Russia is in the list of foreign trade partners of the Philippines in the third ten. “Therefore, there is still a lot of work to be done in this area, and we see a reserve for deepening economic cooperation,” she noted. For these purposes, in 2021, the Russian Chamber of Commerce and Industry opened a regional office in Jakarta in the ASEAN countries. And at the end of 2022, the Trade Representation of the Russian Federation in the Philippines began its work. There is potential for developing cooperation with the Republic of the Philippines in many sectors, including pharmaceuticals and medical equipment, digital technologies, transport and energy infrastructure.
It should be reminded that earlier the Trade Representative of Russia in Singapore was accredited in the Philippines.
Ivan Polyakov, Chairman of the Russia-ASEAN Business Council, welcomed those gathered at the seminar at the Russian Chamber of Commerce and Industry and noted the importance of developing cooperation between the two countries, especially in the field of advanced digital technologies.
The seminar was attended by Ambassador of the Republic of the Philippines Igor Bailen, who spoke in detail about the history of relations between Russia and the Philippines and called his country an attractive destination for business in such industries as shipbuilding, food processing and others. According to him, in the most difficult times, business will always find its way.
"I have been ambassador of the Philippines for over a year now, and with the
difficulties and challenges we all continue to face, I and my team have benefited greatly
from meeting with the experts in the business and innovations sector in Moscow. We are
learning that – вода камень точит, voda kamen' towchit – water breaks stones. It is
similar to what we say in my country: “water seeks its own level”, Igor Bailen said.
"The Philippines and Russia share almost 50 years of diplomatic relations, but
people-to-people relations extend back over 200 years. The first Russian consular post
established in Southeast Asia, in 1817, was in Manila, led by an Irish-American, Peter
Dobell. While there have been milestones in the relationship, there remain vast, exciting
areas to explore, especially in business", the Ambassador said.
"But first, a brief description. We have a large and young and dynamic and highlyskilled, English-speaking workforce. And then, the Philippines has seen a steady increase
in consumption, government spending, investments, and infrastructure development.
Supply and demand in the manufacturing sector are driving growth this year and next
year. All these make the Philippines a very attractive investment destination for
international business and trade prospects", he noted.
"We’re also working hard to increase our competitiveness in industry sectors with
high employment multipliers, such as shipbuilding, food processing, chemicals,
automotive, electronics and garments. Our IT-Business Process Management sector,
which started from scratch at the start of this millennium, is our success story, happening
in a short span of time", the Ambassador stressed.
"At the beginning of his term last year, President Ferdinand Marcos Jr. encouraged
private sector engagement and investment for the benefit of the public. This includes legal
and regulatory support to public-and-private partnerships. Using digitalized services, his
administration is prioritizing transparent and efficient governance, shortening turnaround
time, and curbing corruption. He has also laid down the foundation for a robust
infrastructure for quick, reliable, and affordable internet services which will facilitate
industries and deliver services. We have incentives to attract energy investments,
improve the delivery of energy, and hasten the distribution of power to provide competitive
prices. Most importantly, we prioritize productivity in agriculture and fisheries, in other
words, food security", said Ambassador Igor Bailen.
"Consistent with the president’s vision, I am inspired by interesting stories of
convergence in the digital sector, particularly those having applications that solve our
existential problems. We can use real-time data monitoring to ensure a good rice harvest.
With data solutions, we can pinpoint the exact time when our world-famous Philippine
mangoes can reach their peak freshness and sweetness. And with the innovations
pioneered by some of you in this room, we can help solve traffic, create more efficient
processes, and respond to the needs of our people, while also creating more out of our
value chains", Ambassador Igor Bailen stressed.
The seminar participants were addressed by Ms. Christine Umali, Trade Advisor to the Philippine Embassy in the Russian Federation, and Ms. Amor Maclang, Head of the Digital Philipinas Working Group, Executive Director of the Financial Technology Association of the Republic of the Philippines.
They presented in detail the investment opportunities of the Republic of the Philippines and expressed the opinion that the potential of Russian technologies can be successfully revealed in this country. “The Philippines is located in the heart of Southeast Asia and provides access to the region's key markets,” said Christine Umali. The Philippines hosts a large number of high-tech manufacturing hubs, a trade advisor said.
According to Amor Maclang, Russian and Filipino specialists could cooperate in the field of cybersecurity, which could be the best area for cooperation. She also called on Russian regions in higher education institutions to work more closely with the Philippines.
Before the start of the seminar, a Memorandum of Understanding was signed between the Russia-ASEAN Business Council and Digital Philipinas Technology Resources Inc. The meeting was chaired by Executive Director of the Russia-ASEAN Business Council Daniyar Akkaziev.
Press Service of the Chamber of Commerce and Industry