Marcos, Putin eye broader cooperation in energy, food security, trade

President Marcos and Russian President Vladimir Putin have agreed to explore new opportunities for cooperation in food security, energy, trade, and investment, with both leaders noting significant untapped potential in Philippine-Russia relations despite steady economic ties.

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The two leaders met in Kazan on the sidelines of the ASEAN-Russia Commemorative Summit on Wednesday, June 17, as Manila and Moscow marked the 50th anniversary “Today, President Vladimir Putin and I met to continue the story that started 50 years ago when the Philippines and the Soviet Union opened a diplomatic chapter,” Marcos said in a Facebook post.

“This time, we agreed to explore new opportunities for cooperation in food security, energy, trade, and investment,” he added.

The President said the next chapter of the Philippines-Russia relations should “deliver real benefits to the Filipino people and help build a more peaceful and prosperous future in our region for generations to come.”

‘A great deal more that we can do’

During his opening statement, Marcos thanked Putin for Russia's hospitality and noted the significance of the meeting as the two countries celebrated half a century of diplomatic ties.

The President said he appreciated the efforts of the Philippine and Russian embassies in organizing activities commemorating the milestone, including a photo exhibition held at the Russian Foreign Ministry in Moscow.

On the trade and investment relationship between the two countries, Marcos said there remains considerable room for growth.

“There are many potential areas that I think we should still explore, and I think the present level of trade, although it is steady, I think that there is a great deal more that we can do,” he told Putin.

The President said discussions during the fourth meeting of the Joint Commission on Trade and Economic Cooperation (JCTEC) in Moscow last September had provided a forward-looking exchange on structural issues affecting bilateral trade.

He noted that energy and food security had emerged as mutual priorities during the JCTEC meeting.