Deals on steel, construction, cargo signed
The Philippine Russian Business Assembly (PRBA) sent a delegation to join President Rodrigo Duterte’s official visit to Russia last May 23-26, 2017.
Composed of representatives from 23 member-companies, the delegation was led by Armi Lopez-Garcia, founding chair of the PRBA and Russia’s honorary consul to the Philippines, and President Marita Limlingan.
The PRBA delegation participated in the Philippine-Russia Business Forums held in Mos- cow on May 25 and in St. Petersburg on May 26. Brochures in Russian on “Doing Business in the Philippines,” prepared by SGV & Co., were distributed during the forums.
One of its member-companies, Plantation Bay Resort and Spa, also conducted successful roadshows in Moscow and St. Petersburg, and met with over 100 Russian tour operators and travel agencies in this promotion effort.
During the forum, two of PRBA members, Steel Asia and Armson Corp., signed agreements with Russian companies that sought to establish and expand business relations in the steel and construction industries of the two countries. The secretaries of trade, agriculture, and science and technology, as well as the presidential adviser on entrepreneurship, witnessed the ceremonies.
An agreement on cargo handling between Russian airline Aeroflot and PRBA member VITA Travel Services was also signed. Another PRBA member, the Zamboanga Development Corp., was to sign an agreement with Asian Compass Ltd., a Russian engineering company, on port development.
These agreements are expected to generate trade and investment between the two countries in the amount of at least US$100 million.
An addendum to the cooperation agreement signed in 2011 between the PRBA and the Russian Philippine Business Council (RPBC), its partner- organization in Russia, was also signed to enhance the cooperation between the two organizations, in light of the heightened interest of leaders to expand relations between Russia and the Philippines.
The members who composed the delegation included Steel Asia, Regina Capital, VITA Travel Services, Armson Corp., Palafox and Associates, SGV & Co., Plantation Bay Resort and Spa, and Johndorf Development.