PH signs P620M business deals with Russian firms

October 07, 2019

PRESIDENT Rodrigo Duterte announced that the Philippines signed hundreds of millions of pesos’ worth of business deals with Russia during his five-day official visit to the country.

In a speech at the Francisco Bangoy International Airport in Davao City on Sunday afternoon, Duterte reported the visit’s accomplishments.

“More than P620 million in business deals were also signed during the Philippine-Russia business forum in Moscow,” he said.

He added that in bilateral meetings with Russian President Putin and Prime Minister Dmitry Medvedev, the two countries agreed to broaden their ties in all areas of cooperation, including security and defense, trade and investment, agriculture, energy, science and technology, and socio-cultural exchanges.

Duterte said they also signed bilateral cooperation agreements on peaceful use of energy, scientific research, health, and foreign policy consultations.

“These areas are important part of our comprehensive roadmap to build a partnership with a friend and to secure the Philippines’ strategic interest,” Duterte noted in his arrival speech.

When addressing the forum of the Valdai Discussion Club, Duterte shared the views of the Philippines on evolving world order and the need for building partnerships with sovereign equality and mutual respect to maintain global peace and stability.

During his speech at the Moscow State Institute of International Relations, Duterte underscored that “serving global challenges requires genuine cooperation without political pre-conditions.

Duterte also visited the Filipino community in Russia.

“This visit generated greater momentum for the Philippine-Russian relations. There is a key element of trust to rebalance Philippine foreign policy towards independent, balanced and diplomatic agility,” he said.

“The gains we have made in this visit bring us closer to our objective of a stable, comfortable and a secure life for all Filipinos,” he added