Philippine food firms join Russia trade mission

MANILA, Philippines — A delegation of 14 Philippine food firms is in Russia to explore opportunities to increase the country’s exports, the Department of Trade and Industry (DTI) said.

In a statement, the DTI said the 14 Philippine food firms are participating in an outbound business matching mission in Moscow, which is running until Oct. 1.

Organized by the DTI with the Philippine Trade and Investment Center – Moscow and the Department of Agriculture, the business mission is taking place in time for the WorldFood Moscow 2019, an internationally recognized food and drink exhibition in Russia which will be held on Sept. 24 to 27.

WorldFood Moscow 2019 serves as a platform for international firms to enter the Russian market, as the event is attended by representatives of Russia’s leading supermarket chains, wholesalers, hotel-restaurant-café sector, and food manufacturers.

During the trade exhibition, the Philippine food companies will feature  tropical fruits and juices, artisanal chocolates, banana chips, crackers and biscuits, virgin coconut oils and other coconut products, noodles, condiments, and fishery products.

Apart from displaying products at the WorldFood Moscow, the Philippine firms will also  take part in business matching sessions.

There will also be a briefing with the Eurasian Economic Commission (EAEC) to learn about the preferential tariffs provided to beneficiary countries including the Philippines.

EAEC is a permanent regulatory body of the economic union of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia which has a consumer base of over 170 million.

The business mission will likewise provide opportunities to market products for exporters of fishery products recently accredited by Russia.

“We are now looking at Russia as an emerging market for Philippine exports as we take advantage of the improving trade relations of both countries,” DTI – Trade Promotions Group undersecretary Abdulgani Macatoman said.

Bilateral trade between the Philippines and Russia reached $1.36 billion last year, accounting for 0.74 percent of total Philippine trade with the world.

Philippine exports to Russia reached $86.07 million last year while imports fromRussia reached $1.27 billion.

The three biggest food products exported by the Philippines to Russia are desiccated coconuts, fruits, nuts, and bananas, including fresh or dried plantains.