PCCI to Advance Trade Relations between Philippines and Russia

(From left to right: Mr. Andrey P. Sapozhnikov, Councilor of the Russian Embassy, Amb. Benedicto Yujuico, Chairman, PCCI International and Trade Affairs, Amb. Nikolay Kudashev, Embassy of the Russian Federation, and Atty. Miguel Varela, PCCI President)

Philippine Chamber of Commerce and Industry (PCCI) President Atty. Miguel Varela recently met with the Russian Ambassador to the Philippines H.E. Amb. Nikolay Kudashev.

During their meeting, Atty. Varela assured Amb. Kudashev that the investment climate in the Philippines is conducive for foreign investments. He noted that President Aquino’s policies of transparency and promotion of a level playing field provide for a competitive and predictable business environment.

For his part, Amb. Kudashev noted that though total trade between Russia and the Philippines amounts to $1.6 Billion, there is still much room for improvement. He proposed that a Memorandum of Agreement be signed between the PCCI and the national chamber in Russia, to facilitate the exchange of information and explore business networking opportunities for increased trade.

Amb. Kudashev said that there is significant interest in expanding business relations between the Philippines and Russia. He added that Russian companies in technologies, logistics, food sector, and military are willing to explore opportunities in the Philippines.

Atty. Varela informed the Ambassador that the PCCI plans to send a business delegation to Russia to explore the vast potential of the Russian market.

The proposed PCCI trade mission will also give PCCI a chance to invite Russian businessmen to invest in various sectors in the Philippines including those under the Public-Private Partnership (PPP) program of the Aquino administration.

Amb. Benedicto Yujuico, Chairman of the PCCI International and Trade Affairs also welcomed the opportunity to explore more partnerships and assured the Russian ambassador that PCCI will also engage the Philippines-Russia Business Council and the Philippine Russian Business

Assembly in Cebu to help realize said objectives.

Ambassador Kudashev was accompanied by Mr. Andrey Sapozhnikov, the new councilor of the Russian embassy.