Department of Agriculture Secretary Emmanuel F. Piñol said that Philippines will export coconut oil, banana and shrimps to Russian market.
“The Philippines is now working on the marketing of more agricultural products to the vast market, including coconut oil, bananas, shrimps and others. To date, three fisheries companies export their products to the Russian Federation” Mr. Piñol said in a Facebook post.
More importantly, a trade mission, which would include stakeholders of the agriculture and fisheries sector of the country,was organized by DA in view of penetrating the huge and previously unexplored market of Russia and other member countries of the Russian Federation.
Accordingly, it is important note that the Russia is also interested in setting up a Banana plantation in Mindanao. Also, the 8 billion worth of investment will deemed to generate 10,000 employees ( see report here Foreign Investors to Establish Banana Plantation in Mindanao).
As cited in the report of Business World, “the DA is set to send a delegation to Moscow, Russia in late February to have an agreement signed between Mr. Piñol and Russian Agriculture Minister Dmitry Patrushev. Further, this will be done in order to spell out specific areas of engagements between the two countries, which includes the interest of Russian business groups to develop agriculture and aquaculture in the Bangsamoro region”.
It is also stated in the report that “Mr. Piñol has met with Russian Ambassador to the Philippines Igor Khovaev to finalize the arrangements on the planned visit of the local DA delegation to Russia”.