President Ferdinand Marcos Jr. said on Wednesday that he looks forward to more robust trade and economic cooperation with Russia, underscoring its huge potential for exploration, particularly in energy and food security.

“We appreciate the forward-looking exchange on the different structural issues that affect trade between our two countries,” Marcos said in his opening statement during the bilateral meeting with Russian President Vladimir Putin in Galiasgar Kamal Tatar State Academic Theatre in Kazan, Russia.

“And as you have mentioned, Your Excellency, we – there are many potential areas that I think we should still open to explore, and I think that the present level of trade, although it is steady, I think that this is – there is a great deal more that we can do.”

The President noted that during the Joint Commission on Trade and Economic Cooperation (JCTEC) meeting held in Moscow last September, energy and food security emerged as a mutual priority of both countries, with the B2B (business to business) component of the JCTEC sideline meetings enabling the Philippines and Russia to establish networks and to explore joint ventures.

Among the memoranda of understanding signed during the meetings were those covering cooperation in innovation, retail products, cosmetics, food processing, and industrial collaboration, the Chief Executive said.

Marcos told Putin that their meeting is a particularly significant moment for the two nations as they celebrate the 50th anniversary of Philippine-Russian ties.

The Philippine leader expressed hope to continue holding regular political consultations between the Philippines and the Russian foreign ministry, as they provide an important opportunity to explore further avenues for cooperation.

And, speaking as Chair of the Association of Southeast Asian Nations (ASEAN), Marcos extended an invitation to Putin to attend the 21st East Asia Summit, to be held in Manila this November.

Marcos pointed out that the East Asia Summit “remains an integral part in maintaining a regional architecture towards our shared goal of a stable, secure, and prosperous region.”

Marcos arrived in Kazan to participate in the ASEAN-Russia Commemorative Summit, a significant event marking the President’s first visit to Russia as Philippine leader.

President Ferdinand E. Marcos Sr., his father, made a historic visit to the then-Soviet Union in 1976, which culminated in the establishment of diplomatic relations between the Philippines and Russia. Presidential News Desk