Trade and Industry secretary Ramon Lopez said the Philippines is ready to boost its trade and investment ties with Russia as part of efforts to pursue non-traditional trading partners. While the Philippine government is ready to supply Russia with high-quality export products, including food, garments, semiconductors, among many others, Lopez said Russian investors can also consider opportunities in information technology-business process management, tourism, and retail trade in the Philippines. Lopez made the announcement following a successful Philippine trade and investment scoping mission to Vladivostok. Russia is the country’s 33rd trading partner, with bilateral trade value of USD226.25m last year.
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