04 April 2018
Published also in Business Mirror
IN an effort to help Philippine exporters tap more legitimate foreign buyers from Russia, the Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) will provide Philippine exporters a list of Russian importers of the target products using its subscription to Seldon.Basis database facility.
The service is offered primarily to exporters who are being assisted by the EMB and those who are registered in its online business-matching system accessible via businessmatching.dti.gov.ph.
The system is part of the Tradeline Philippines Portal, the DTI-EMB’s business intelligence platform that aims to deliver timely and relevant information and assistance to existing and potential exporters to enhance their capabilities and competitiveness as suppliers of quality goods and services to global markets. It is accessible via tradelinephilippines.dti.gov.ph.
Seldon.Basis collects and analyzes all company and entrepreneur information from official sources. The software is used for a comprehensive analysis of Russian contractors to find out how reliably they fulfill their financial, contractual or legal obligations.
Russia is the fourth-largest consumer market in the world. It is the wealthiest market per capita of all BRICS (Brazil, Russia, India, China and South Africa) countries. Russian gross domestic product per capita is three to nine times that of China and India. It represents the largest and the fastest sales growth market in Europe with over 150 million people.
Russia was the Philippines’s 29th trading partner in 2017, with a total bilateral trade valued at $537 million or 0.34 percent of total Philippine trade with the world at $156.07 billion. It was the Philippines’s 37th export market, amounting to $61.35 million and 24th import source valued at $475.95 million.
President Duterte’s visit to Russia in May 2017 reinforced the importance of trade, economic and socio-cultural cooperation. A Commercial Attaché has been commissioned this year and established the Philippine Trade and Investment Center in Moscow to show that the President is determined to increase Philippine exports to Russia.
The Philippines exported various products, such as electronic products (static converters, ignition wiring sets for aircraft or ships, electric space heating apparatus and other office machines), and agricultural products such as carrageenan, desiccated coconuts, processed fruits and nuts.
To avail themselves of the free database service, qualified exporters may contact Jing Go-Aco and Kaye Mendoza at 465.3300 local 228 and 224.