Phl, Russia forge agri deals

MANILA, Philippines -  The Philippines has entered into a deal with Russia to market, promote and buy agricultural products as a result of President Duterte’s short state visit.

Agriculture Secretary Emmanuel Pinol said Russia has expressed interest to buy Philippine agriculture produce including fisheries, fruits, coconut oil and other by-products and processed food.

Russia will open an outlet in its capital city Moscow that will showcase Philippine agriculture products.

“Agriculture Minister Alexandr Takchev promised to help the Department of Agriculture to find an ideal location for the proposed Philippine Agri-Aqua Products Outlet,” Pinol said.

On the other hand, Russia plans to bring wheat, sorghum (cereal grain), meat and farm machineries to the Philippines.

“They expressed willingness to assist us in finding sources for sophisticated equipment which would help the Philippines guard its vast fishing grounds,” Pinol said.

This is in relation to the plan of the DA to buy at least two patrol helicopters and long-flying drones to guard the 13-million hectare Philippine Rise and the West Philippine Sea from foreign fishing vessels poaching within Philippine waters.

Meanwhile, both countries agreed to immediately form teams which would inspect each other’s processing facilities to fasttrack the start of the trading of goods.

Russia has pledged to buy $2.5-billion worth of agricultural products from the Philippines over the next 12 months.

The Philippines’ top export product to Russia is carrageenan, seaweed and other algae, while petroleum oils and oils obtained from bituminous minerals are the top imports from Russia.

In 2015, Russia ranked 31st out of 223 trade partners and is the Philippines’ 44th largest export market and 27th largest source of imports.