Duterte back home; P620M business deals signed between PH-Russia

October 6, 2019

President Rodrigo Duterte returned on Sunday from a five-day official visit to Russia where P620-million business agreements were signed between the two countries.

In his arrival speech at the Davao airport, Duterte said the "reinvigorated" friendship with Russia is starting to bear fruits.

"More than 620 million pesos in business deals were also signed during the Philippines-Russia Business Forum in Moscow. We hope that these contracts will generate more jobs and economic opportunities for many Filipinos," he said.

The President said that in his separate bilateral meetings with Russian President Vladimir Putin and Prime Minister Dmitry Medvedev, they agreed to broaden and deepen the ties of the Philippines and Russia 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 the peaceful uses of energy, scientific research, health, culture, and foreign policy consultations. These areas are important and therefore part of our comprehensive roadmap to build a partnership with a friend and to secure the Philippines’ strategic interests," he said.

Duterte said his second visit to Russia generated "greater momentum" for Philippines-Russia relations.

"[This] is a key element of our thrust to rebalance Philippine foreign policy towards independence, balance, and diplomatic agility," he added. Celerina Monte/DMS