Russia to import $2.5bn in fruit and fishery products from Philippines
In a post on Facebook, Piñol said that the agricultural trade link will be signed on Thursday in the presence of President Rodrigo Duterte and Russian President Vladimir Putin.
Piñol said that several Filipino agriculture and fisheries producers have joined Duterte on his official visit because of the agreement.
Philippine Ambassador to the Russian Federation Carlos Sorreta told reporters that Piñol and Trade Secretary Ramon Lopez were also expected to pitch Philippine bananas to the Russians.
“One of our targets is agricultural products like—Sec. Piñol, Sec. Lopez said, for example, Russia is a huge market for bananas. They love bananas. They import one billion worth of bananas a year. One billion. Can you imagine that?” he said.
“It’s largely tiny little Ecuador that captures 95 percent of the banana market. That’s because of the massive amounts they’ve invested in promotion… We need to invest in promoting our products. They won’t just buy it. We really need to promote,” he added. ■