MANILA /the Philippines/, October 4. /TASS/. Russia has resources not only for satisfying domestic demands, but also for ensuring supplies of goods and technologies to its partners in various parts of the world, Deputy Minister of Industry and Trade Alexey Gruzdev said at the Russian-Philippine business forum that has taken place in Manila with more than companies participating.

The Russian government "has assumed measures to support the economy that ensure the consistency of the process of production," he said. "Last year the Russian economy contracted by 2%, though this year we project GDP growth within 2.5-2.7%. Russia is committed to its international obligations and has possibilities not only for satisfying its domestic demands, but also for ensuring supplies of goods and technologies to its good friends in various parts of the world. And the Philippines is our prior partner," Gruzdev said, adding that such issues as establishing logistics, introducing payment systems and tackling unfair competition should still be addressed.

"I am very glad to be back to Manila to participate in the meeting of the intergovernmental commission and to have the possibility of discussing relevant issues of bilateral cooperation with the business community, as well as hearing your opinion on existing approaches, problems and priorities. Together we will try to find the best solutions for all those questions. Unfortunately, the world today is not as stable as previously, moreover, it continues recovering from the negative consequences of the coronavirus pandemic. Changes are underway in global economy as well triggered by growth of inflation in a number of countries, the lack of supplies of commodities, including grain and fertilizers," he stressed.

The concept of technological sovereignty that is being implemented by Moscow, does not mean that "the country will close borders and abandon the development of partnership relations," the Russian official noted.

The business forum was held as part of the third meeting of the joint Russian-Philippine intergovernmental commission on trade and economic cooperation that will take place in the capital of the Philippines on October 5. Russia’s business mission is represented by such companies as Gazprom, Novostal-M, Miratorg, Uralkali, TMK, Kamaz, GAZ Group and more.