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Duterte names Russia priority trade and investment market for Philippines

The Philippine leader stressed that economic relations between the two countries are developing

Philippine President Rodrigo Duterte Mikhail Klimentyev/Presidential press-service/TASS

Philippine President Rodrigo Duterte

© Mikhail Klimentyev/Presidential press-service/TASS

MOSCOW, October 4. / TASS /. Russia is a priority trade and investment market for the Philippines, Philippine President Rodrigo Duterte told the Russian-Philippine Business Forum on Friday.

"Our economic relations are developing. For us, Russia is a priority trade and investment market. I am very much pleased that our economic exchange is increasing. Last year, total trade amounted to $1.36 bln," Duterte said.

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Duterte noted that trade turnover for 2018 more than doubled that of 2017.

He also pointed out that Filipino fishing companies gained access to the Russian market and markets of Eurasian countries. "I personally thank President Vladimir Putin and Prime Minister Dmitry Medvedev for this. I know that this will create more jobs for Filipinos," Duterte said.

He invited "Russian friends to invest more and do business in the Philippines."

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