Philippines, Russia sign $600M business deals

President Rodrigo Duterte announced more than $600 million worth of business deals signed by Russian and Philippine firms in his arrival speech at the Francisco Bangoy International Airport in Davao City Sunday afternoon.

Fresh from his state visit to Moscow, Duterte said the deals include the export of tuna to Russia by two local fishing companies that were accredited by Russian authorities as supplier.

He said the deals will create more jobs and business opportunities for Filipinos.

The president said the two countries have also heightened bilateral cooperation in other fields as he stressed that there is a big room for significant growth in relationship and there is a need to build partnership with Moscow.

“We reaffirmed the Philippines strong commitment to a robust and comprehensive partnership with the Russian Federation on the basis of mutual respect, trust and pragmatism,” said Duterte.

According to Duterte, he, Russian President Vladimir Putin and Russian Prime Minister Dmitry Medvedev agreed to broaden and deepen ties in all areas of cooperation from security and defense to trade and investment, agriculture, energy, science and technology, and socio-cultural exchanges.

“We signed bilateral cooperation agreements on peaceful use of energy, scientific research, health, culture and foreign policy consultation. These areas are important and part of our comprehensive road map to build partnership with a friend and to secure the Philippines’ strategic interest,” said Duterte.

Duterte also revealed that he met the Filipino community in Russia for the first time, listened to their needs and thanked them for their economic contribution to the country.