The Philippines is considering pharmaceuticals supplies from Russia and may offer Russian manufacturers to set up their production facilities if they find the market attractive enough, Philippine Department of Trade and Industry Undersecretary Ceferino S. Rodolfo told Sputnik
MOSCOW (Pakistan Point News / Sputnik - 26th August, 2019) The Philippines is considering pharmaceuticals supplies from Russia and may offer Russian manufacturers to set up their production facilities if they find the market attractive enough, Philippine Department of Trade and Industry Undersecretary Ceferino S. Rodolfo told Sputnik.The Philippine delegation led by Rodolfo visited Moscow last week for the co-Chairs meeting of the Philippines-Russia Joint Commission on Trade and Economic Cooperation (JCTEC).
According to Rodolfo, the Philippines is primarily importing pharmaceuticals from Western producers, which tend to be "quite pricey."
"We are looking at attracting Russian companies first maybe to supply to the domestic market ... Once they see that there is really strong marketing in the Philippines [we would invite Russian companies] to produce also in the country," the trade and industry undersecretary noted.
Dwelling on other areas of cooperation, Corazon Halili-Dichosa, the Philippine board of Investments (BOI) Industry Development Services Executive Director, mentioned the mining sector.
"There is also some interest in the mining sector, for example, in construction and rehabilitation of existing mining plants in the country," Halili-Dichosa told Sputnik.
The official added that the Russian companies were also interested in supplying construction materials to the country considering the growing demand due to the Asian nation's "Build, Build, Build" program that envisages dozens of transportation-related projects.
