Money Matters

Duterte’s Russia Visit secures over ₱620M worth of Business Deals

President Rodrigo Duterte returns from a successful visit to Russia, securing more than ₱620 million worth of business deals.

The President sought closer bilateral economic and defense cooperation during the trip. Because of this, the momentum for the PH-Russia relations was “greatly increased”.

“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. And working with Russia, we have achieved much,” said Duterte.


He explains that the two countries have agreed to broaden and deepen ties in all aspects of cooperation. This includes security and defense, trade and investment, agriculture, energy, science and technology, as well as socio-cultural exchanges.

These were reached during the President’s meetings with Russian President Vladimir Putin and Prime Minister Dmitry Medvedev.

Putin has said that he considers the Philippines “a very important partner of Russia in Asia”. This is due to the constructive and mutually beneficial cooperation between the two countries.

PH-Russia Relations Bearing Fruit

Duterte witnessed the signing of bilateral cooperation agreements while in Moscow. This includes 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,” said Duterte.

He also explains that the reinvigorated friendship with Russia has started to bear fruit. During the trip, several evidenced private business ideals were sealed.

“More than P620 million 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,” said Duterte.

A Step Towards a Better Philippines

The president also emphasized fairness, equality, and mutual respect among sovereign nations during his speech at the Valdai Forum in Sochi.

“I shared our views on the evolving world order and the need to build partnerships on the basis of sovereign equality and mutual respect in order to maintain global peace and stability,” he said.

Duterte explains that the gains attained during the trip have brought the government closer to its goal of a stable, comfortable, and secure life for all Filipinos.

via Manila Bulletin

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