Mon, 21 Oct 2019

PRRD returns from Russia with P620-M biz deals

Philippine Information Agency
09 Oct 2019, 10:38 GMT+10

DAVAO CITY (PIA) - President Rodrigo Roa Duterte returns to Davao City on October 7, from an official visit to the Russian Federation Sunday afternoon announcing some 620 million pesos business deals signed during the Philippines-Russia Business Forum in Moscow.

"We hope that these contracts will generate more jobs and economic opportunities for many Filipinos. This is only the beginning. The horizon is wide. There is room for significant growth," President Duterte said.

Also announced in his arrival speech is the accreditation of two additional Philippine fishery establishments.

"This will allow Filipino fishing companies to export our tuna and other products to Russia and the larger market of the Eurasian bloc."

Some of the business agreements brought home from the visit are the Memorandum of Understanding between Century Pacific Food Inc and the Magnit Food Retail Chain; with the Dalimo; and the LLC Dalpromryba where the former will supply tuna and sardines products to these companies to serve the Russian market.

Another agreement was also signed between Century Pacific Agricultural Ventures Inc and the Panasia Impex Co. Ltd. in which the former will supply coconut milk products for the Russian market.

In the same trip, a Memorandum of Intent was entered into between the Philippines' Energy Secretary and Rusatom Overseas. It contains the intention to jointly explore the prospects of cooperation in the construction of nuclear power plants in the Philippines.

"The Constitution does not --- would not like it. It is prohibited. That is why I have to talk to the Cabinet. I cannot affirm or deny that because that's part of the proposals. The --- the hard-line would come after I shall have consulted with everybody concerned including people of the industry affected. If it's food, then it's agriculture. If it is energy, then Secretary Cusi. He was not with us. Which is favorable to government interest should be the one adopted by us."

The President also announced that bilateral cooperation agreements were signed 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 added. (PIA/Frances Mae Macapagat)

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