Banquet Hall 3, Philippine International Convention Center
18 November 2015

President Benigno S. Aquino III and Russian Federation Prime Minister Dmitry Medvedev witnessed the signing of two agreements on trade cooperation and fight against narcotics on the margins of the APEC Economic Leaders’ Meeting (AELM) Week that is being held in PICC, Manila.

Trade and Industry Secretary Gregory Domingo and Minister of Economic Development Alexei Ulyukayev signed the first agreement between the Philippines and Russian Federation on the Establishment of a Philippines-Russia Joint Commission on Trade and Economic Cooperation.

In the agreement, both 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.

As described by Communications Secretary Sonny Coloma, it envisions the participation of the private sector and business community, as well as experts in the economic field to complement efforts of government to bolster Philippines-Russia economic cooperation. The Department of Trade and Industry and Russia’s Ministry of Economic Development will spearhead the implementation of the said Agreement.

Philippine Drug Enforcement Agency Director General Arturo G. Cacdac, Jr. and First Deputy Director Vladimir Kalanda of the Federal Service of the Russian Federation signed the next document. It is a 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.

The Memorandum 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, conduct of research among others.