THE Philippines and Russia sealed new pacts that seek to strengthen the countries’ trade ties and joint anti-narcotics program to address problems relative to the production, spread, and abuse of these substances.
The agreements, among others, were signed during Wednesday’s bilateral meeting between President Benigno Aquino 3rd and Russian Prime Minister Dmitry Medvedev at the Philippine International Convention Center.
Aquino cited the great potential offered by large scale public and private sector contracts with Russia and the agreements on the formation of the joint commission on trade and economic cooperation and cooperation in combating illicit drug trade.
Medvedev conveyed President Vladimir Putin’s felicitations and expressed his personal elation on his first visit to the Philippines, which coincides with the holding of the Asia Pacific Economic Cooperation Summit.
Medvedev congratulated Aquino for the “impressive performance” of the local economy, vowing to scale up economic cooperation between the two nations.
He invited Aquino to visit Moscow next year for its transportation exposition.
The establishment of a Philippines-Russia Joint Commission on Trade and Economic Cooperation will establish a Joint Commission on Trade and Economic Cooperation, which will serve as the primary mechanism to facilitate and promote trade and economic cooperation between the Philippines and Russia.
Under the agreement, the two countries will identify measures to facilitate the flow of bilateral trade and investments, and explore areas and sectors where cooperation could be expanded and intensified.
It also envisions the participation of the private sector and business community, as well as experts in the economic field to complement governmental efforts to bolster Philippines-Russia economic cooperation.
Trade Secretary Gregory Domingo signed the agreement along with his counterpart, Alexei Ulyukayev, Russia’s Minister of Economic Development.
Meanwhile, the memorandum between the Philippine Drug Enforcement Agency and the Federal Service of the Russian Federation for Narcotics Traffic Control on Cooperation in Combating New Psychoactive Substances aims to strengthen Philippines-Russia cooperation to address problems relative to the production, spread, and abuse of new psychoactive substances through exchanges of information and methods, advisory and expertise assistance, and the conduct of research, among others.
PDEA director general Arturo Cacdac Jr. signed the agreement for the Philippines while Vladimir Kalanda, First Deputy Director, Federal Service of the Russian Federation for Narcotics Traffic Control, represented the other side.