The Philippines will convene its respective joint commissions with Russia and China in the first half of 2017, underscoring the Duterte administration’s pivot for enhanced economic and trade relations with these two countries.
Trade Undersecretary Ceferino S. Rodolfo told reporters on Tuesday the Philippines-Russia Joint Commission on Trade and Economic Cooperation (JCTEC) will convene on January 26 in Manila, serving as a prelude to President Duterte’s visit to Moscow, possibly in March.
Russian Deputy Minister for Economic Development Alexander Tsybulskiy is expected to attend the Philippines-Russia JCTEC, Rodolfo said.
“The JCTEC serves as a bilateral platform for discussing enhancement of trade and investment relations. Having a joint commission signifies strong interest from both parties and is supportive of the President’s thrust,” the trade official said.
Already, the Russian government has expressed interest in cooperation in the areas of energy efficiency technology, information technology-business process management, tourism, infrastructure, science and technology, industry development, aerospace, tourism and electronics.
“We’re the fastest-growing economy in Asia, and we represent a large consumer market, so Russia has a large interest in us. They want to push toward the Pacific area,” Rodolfo pointed out.
The Philippines-Russia JCTEC was agreed upon and formed during former President Benigno S. Aquino III’s term, particularly during the country’s hosting of Asia-Pacific Economic Cooperation Leaders’ Meeting in November 2015.
In March the Philippines-China JCTEC will reconvene after six years of inactivity.