Speaking on the sidelines of the ASEAN-Russia Commemorative Summit on Wednesday, President Ferdinand R. Marcos Jr. underscored the massive potential for expanding trade and economic cooperation between the Philippines and Russia, positioning food security and energy as the cornerstones of their future partnership.
During a historic bilateral meeting with Russian President Vladimir Putin at the Galiasgar Kamal Tatar State Academic Theatre, President Marcos highlighted that while current trade remains steady, there is immense room for growth.
“We appreciate the forward-looking exchange on the different structural issues that affect trade between our two countries,” President Marcos said. “There are many potential areas that I think we should still open to explore, and I think that the present level of trade, although it is steady… there is a great deal more that we can do.”
The high-level talks gained added significance as the two nations celebrate the 50th anniversary of Philippine-Russian ties. President Marcos Jr.’s visit mirrors a historic 1976 trip to the Soviet Union made by his father, former President Ferdinand E. Marcos Sr., which paved the way for the initial establishment of diplomatic relations.
Key takeaways and developments highlighted during the meeting include:
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B2B and Joint Ventures: Building on the Joint Commission on Trade and Economic Cooperation (JCTEC) meeting held in Moscow last September, sideline business-to-business (B2B) engagements have enabled both nations to establish networks and actively pursue joint ventures.
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Strengthened MoUs: The Chief Executive noted that bilateral memoranda of understanding (MoUs) have already been signed covering collaboration in food processing, innovation, retail products, cosmetics, and industrial partnership.
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Regular Political Consultations: President Marcos expressed optimism about maintaining regular political consultations between the Philippine government and the Russian foreign ministry to seamlessly map out further cooperative pathways.
Acting in his capacity as Chair of the Association of Southeast Asian Nations (ASEAN), President Marcos personally extended an invitation to President Putin to attend the 21st East Asia Summit, which will be hosted in Manila this November.
The President stressed that the East Asia Summit is a crucial pillar in preserving a balanced regional architecture that ensures a stable, secure, and prosperous Southeast Asian and Asia-Pacific region.
The Kazan summit marks President Marcos Jr.’s first official visit to Russia as the Philippine leader, reinforcing Manila’s commitment to independent foreign policy and robust strategic partnerships.
