Russia: PH a promising and very important partner in Asia-Pacific region

Philippines is a promising and very important partner of Russia in Asia-Pacific region, this was stated by Russia Prime Minister Dmitry Medvedev during his bilateral meeting with President Benigno Aquino III November 18 at the sidelines of the recently concluded APEC Economic Leaders’ Meeting at the Philippine International Convention Center. The Department of Foreign Affairs said in this regard, he urged the Philippines and Russia to “step up the pace” of their bilateral cooperation in the fields of energy, telecommunications, agriculture, transportation, and construction.

President Aquino, for his part, acknowledged the importance of the meeting in facilitating progress in bilateral relations, especially with the celebration of the 40th Anniversary of the Establishment of Philippines-Russia Diplomatic Relations and the upcoming political consultations next year. He also called for enhanced and a more balanced two-way trade with Russia, as well as more Russian investments in the Philippines, particularly in the areas of information technology and business process management, processed food, and energy.

The two leaders discussed the whole spectrum of Philippines-Russia bilateral relations which include political dialogue, trade and investments, combating illegal narcotics, defense and security, education, humanitarian assistance and cultural cooperation.

After the two leaders’ meeting, they witnessed signing of Agreement on the Establishment of a Philippines-Russia Joint Commission on Trade and Economic Cooperation and the Memorandum on Combating New Psychoactive Substances.