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07/10/2019 - 05:01

Philippines prioritises trade, investment cooperation with Russia

Philippine President Rodrigo Duterte recently called Russia a priority trade and investment market for the Philippines, adding that the Southeast Asian country has worked to bolster the bilateral ties.

Philippine President Rodrigo Duterte (L) shakes hands with his Russian counterpart Vladimir Putin (Photo: AFP/VNA)

Philippine President Rodrigo Duterte (L) shakes hands with his Russian counterpart Vladimir Putin (Photo: AFP/VNA) Speaking at the Philippines-Russia Business Forum in Moscow on October 4, he said the bilateral economic relations have thrived as two-way trade last year doubled the figure in 2017, and has maintained the momentum.

Philippine fishery establishments recently gained accreditation to export to Russia and to other Eurasian markets, the leader noted.

He said that trade partnerships with Russia would create various opportunities, particularly more jobs for Filipinos.

The Philippine President started his five-day visit to Russia on October 2. At his talks with host President Vladimir Putin, the two sides agreed to consolidate the bilateral cooperation towards the building of a robust partnership.

During the Duterte’s visit, the two countries inked 10 cooperation agreements worth 6.6 million USD in the fields of agriculture and equipment, among others.

The Department of Energy of the Philippines and the Rosatom State Nuclear Energy Corporation of Russia also reached a deal to carry out a study the possibility of Russia helping build a nuclear power plant in the Philippines./.

VNA

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