On March 10, 2023, a working meeting was held in Moscow between the leadership of the Russian-Asian Business Council (RABC) and the Trade and Investment Center in Moscow of the Ministry of Trade and Industry of the Philippines. The meeting took place on the territory of the Embassy of the Philippines in Russia. From the RABC side, the meeting was attended by Chairman Maxim Kuznetsov, RABC President Vera Pronkina and Advisor to the RABC Chairman for the Philippines Amerigo Tatel.
During the meeting, the parties discussed the development of cooperation in the trade, economic and investment fields, and agreed to establish information exchange. In addition, as a result of the meeting, it was decided to hold a joint event for Russian participants, dedicated to the development of exports and imports with the Philippines, as well as investment opportunities in the region.
“The Philippines today is one of the most dynamically developing countries in ASEAN. Currently, the population of the country exceeds 106 million people, and the Philippine economy is growing at 7% per year. At the same time, the volume of trade between our countries is about 1 billion in dollar terms, which is 7 times lower than trade with Vietnam, which has a comparable population. We see great potential in RABC for the development of Russian-Philippine trade, and we will do our best to make the Philippines closer and more accessible for Russian entrepreneurs.” - said Maxim Kuznetsov.