9 PH-Russia business deals up for signing
During PRRD’s visit to Moscow
At least nine business deals between Filipino and Russian firms and government to government cooperation are set for signing during President Duterte’s second state visit to Moscow this week.
Trade and Industry (DTI) Secretary Ramon Lopez revealed these deals are in the fields of pharmaceuticals, medical equipment, joint ventures for manufactured goods, deals on lifestyle business systems, distributorship and supply of agricultural products.
These include sale of Philippines canned fish and coconut products.
There will also be signing of government to government cooperation deals during the President’s visit from October 1-5.
“Russian businesses are keen on expanding their operations in the Philippines,” he said.
Last week, Russian Deputy Minister of Industry and Trade Aleksey Gruzdev led a delegation of Russian business executives. During the visit, Lopez shared Philippines’ priority industries that Russia can participate in.
He highlighted pharmaceutical, medical, as well as vehicle manufacturing sectors that both countries can collaborate on.
“The Philippines, under the leadership of President Rodrigo Duterte welcomes the interest of Russia to pursue economic cooperation engagements with the government and our business sector. We are optimistic that this good bilateral relationship between the two countries would drive investments, trade, and jobs,” said Lopez.
According to the trade chief, the visiting Russian businessmen were exploring opportunities on various industries including airport infrastructure, aviation, shipbuilding, railways, satellite navigation system, waste water management, and power.
Gruzdev expressed confidence with both countries’ strengthened business relationship and economic partnership. He likewise reiterated Russia’s openness for trade cooperation.
President Duterte will also be accompanied by over 150-man business delegation to link with possible Russian counterparts.
Also present during the meeting were DTI Assistant Secretary Angelo Taningco, Foreign Trade Service Corps Executive Director Magnolia Uy, Board of Investments Executive Director Ma. Corazon Dichosa, Russian Ambassador Igor Khovaev, and Ministry of Industry and Trade Deputy Director for Asia, Africa, and Latin America Aleksey Meshkov.