Philippines - Russia deal: A new market to explore


As part of government's efforts to improve the fisheries industry in the Philippines, three (3) memoranda of understanding (MOU) have been signed between Philippine tuna producers and their Russian counterparts. The said MOU between Century Pacific Food and Russian partners Magnit Food Retail Chain and LLC Dalpromryba opens up a new market for the Philippines.

“The trip of the President was very productive, and this agreement is one of many that will benefit Philippine business interests, especially those that are based in Mindanao,” said the Palace official.

According to Nograles, fisheries output was increased by 1.51% in the first six (6) months of 2019.

“As a son of Mindanao, I consider the MOUs a big win not just for tuna producers, but for Mindanao, as the region is the source of 90 percent of tuna produced by our country. This is an industry that creates jobs and annual direct revenues of 400 million US dollars. In General Santos City alone, the industry directly employs 25,000 workers,” Nograles said.

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SFFAII.COM: Philippines - Russia deal: A new market to explore
Philippines - Russia deal: A new market to explore
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