Philippines seeks increased ties with Russia

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.