Russia 'good' market for the Philippines

CEBU CITY – The potentials of Russia as a niche market of Cebu was confirmed by a 14-member trade mission led by the Cebu Chamber of Commerce and Industry (CCCI) and the Cebu Consulate of the Russian Federation.

"The Russian market is waiting to be tapped. They are ready because they have the money," said Armi Lopez Garcia, Honorary Consul of the Russian Federation in Cebu.

CCCI past President Anastacio Muntuerto said the delegation was able to verify that the Russians have high spending capacities, making them a potential market for tourism and trade.

"We have never seen that much luxury cars—Rolls Royce, Bentleys- pass by before. It only means people in Russia are rich and they spend a lot. That makes them a good market," he said.

The Russians, too, have much to learn from the "happy go lucky" nature of Filipinos, Muntuerto added.

"People there are warm but they need to learn how to smile. That's the strength of Filipinos because we are a happy people," he said in an interview.

Garcia said the exhibit proved that prices of goods are not an issue among Russians.

She said even when the prices of her fashion accessories went up three to four times, Russian buyers did not show any disapproval.

"They love anything made of pearls and shells," she added.

But she said that while Russians are "not very price sensitive," they place high regard for quality and creativity, which she said are the competitive advantages of Philippine-made products.

In the same development, Francis Monera, CCCI immediate past president said while Russia poses strong potentials for business and leisure, the challenge still lies in educating the market about tourism and trade opportunities in the Philippines, particularly in Cebu.

He raised the need to create business linkages between local firms and their Russian counterparts.

"We need to study their market through proper matching and establish more tie-ups," he said. #

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