By Maria Jaena P. Go-Aco / Special Trade Industry Development Specialist, DTI-EMB
RUSSIA, the largest country in the world in terms of land mass, is the 12th-largest economy in the world with a nominal gross nominal product of $4.02 trillion.
The Eurasian Economic Union single market of Russia, Belarus, and Kazakhstan Armenia and Kyrgyzstan increase this consumer base to over 170 million more wherein Russia is the lead country.
The visit of President Duterte in May 2017 to Russia paved the way to vast opportunities for increased economic cooperation, political security, and cultural and people-to-people exchanges between the two countries. To move things forward, the Department of Trade and Industry forged and signed a Joint Commission on Trade and Economic Cooperation, and discussed various areas of cooperation in trade and investments, agriculture, industry, energy, manufacturing, infrastructure, transport, tourism, science and nuclear technology, labor and higher education.
The Department of Agriculture, likewise, convened the very first Philippines-Russia Joint Working Group Meeting on Agricultural Cooperation. With this meeting three Philippine fishery companies were accredited by the Russian Federal Service for Veterinary and Phytosanitary Surveillance and can now export canned tuna to Russia.
Together, the Philippine Trade and Investment Center in Moscow and the DTI’s Export Marketing Bureau with the DA’s Agribusiness and Marketing Service are currently organizing Philippine participation in the World Food Moscow in September 2019 at Crocus Expo Exhibition Center in Moscow. This outbound business-matching mission (OBMM) with trade-fair participation aims to enable Filipino exporters to promote their products and meet buyers face to face. Exporters will also have the opportunity to learn and experience the intensity of business in the Russian market through market-sensing activities.
Other activities of the OBMM include meetings with major business chambers, associations and importers in Russia.
It is now time to explore opportunities and do business in Russia.
2 comments
Hi Ms Maria maybe you meant PPP GDP (Russia)?
– https://www.imf.org/external/pubs/ft/weo/2018/02/weodata/weorept.aspx?pr.x=63&pr.y=2&sy=2016&ey=2018&scsm=1&ssd=1&sort=country&ds=.&br=1&c=922&s=PPPGDP&grp=0&a=
This should have been done much earlier by the past administrations but no one dared. Until Pres. Duterte came into office, the government seem to have been kowtowing and dictated upon by the US.