MANILA, Philippines – President Arroyo is scheduled to leave for South Korea and Russia before the end of the month to open markets for Philippine products and follow-up on investment commitments.
No official schedule has been released by the Palace but some officials said Mrs. Arroyo is expected to proceed to either St. Petersburg or Moscow from Seoul.
Trade and Industry Secretary Peter Favila said the visit to Korea is part of the celebration of the 60th anniversary of diplomatic relations between the two countries.
President Arroyo will participate in a major forum of chief executive officers of the two countries in Seoul, Favila said.
He said the Philippine delegation would also follow up on the “good propositions” the Korean investor community made on the Philippines, including joint ventures and direct investments that include property development.
He said the Department of Tourism would also play a significant role in getting the investments in.
“In Russia, we will be moving towards developing markets there upon instructions of the President,” Favila said in a telephone interview.
He said the global recession prompted the government to look for other markets aside from the traditional ones like the US.
“We have to be aggressive and maybe we can develop markets for our food industry, furniture industry and jewelry,” he said. – Paolo Romero