(Eagle News)–Philippine and Russian companies have signed $12.57 million in deals during President Rodrigo Duterte’s second trip there.
In a statement on Saturday, Oct. 5, Presidential Spokesperson Salvador Panelo said the deals included a memorandum of agreement, five memoranda of understanding, two memoranda of intent, and two distributorship agreements.
He said among the deals signed was an intention to “jointly explore the prospects of cooperation in the construction of nuclear power plants,” a “cooperation of information exchange and collaboration on business development to exchange of information on investment environment and opportunities… supplying tuna and sardine products and coconut products to the Russian market, as well as distribution, promotion and sale of Russian-made watches, vehicles, and IPP-NLS (medical) technologies in the Philippines.”
“President Duterte cited two Philippine fishery establishments which gained accreditation to export to Russia and other Eurasian markets and which created livelihood opportunities for Filipinos,” Panelo said.
He said Duterte also invited Russian businessmen to invest in the Philippines and offered them fiscal and non-fiscal incentives.
“During the forum, President Duterte mentioned that Russia is a priority and investment market for the Philippines and acknowledged that the presence of Russian business groups during the event is a strong vote of confidence in the Philippines,” Panelo said.
This is the President’s second trip to Russia.
