[Trending Now] PH To Ship Agricultural Products to Russia as Duterte Eyes Other Foreign Export Relations

Following the pronouncement of President Rodrigo Duterte about dealing with China and Russia instead of its long-time ally United States, the Philippines is now eyeing Russia to be an export destination of agricultural products. This was announced by Finance Secretary Carlos G. Dominguez III. 

"We would like our own companies to penetrate further. (We see) Russia as a new market for agricultural products," he said in the Senate during the hearing for 2017 budget.

This agricultural products mainly include bananas, vegetables and other tropical fruits.

The cabinet noted that this partnership aims to "strengthen and exploit countries other than our traditional trading partners," 

"I think the recalibration of the President of foreign policy will certainly open a lot of opportunities for us," Domingue added explaining that the President wants to explore opening the investment area to other foreign participants. 

Source: TNP , GMANetwork