Marcos, Putin discuss boosting trade ties at bilateral meeting in Russia

President Ferdinand “Bongbong” Marcos Jr. and Russian President Vladimir Putin on Wednesday discussed the possibility of enhanced trade relations between the Philippines and Russia during their bilateral meeting in Kazan, Russia.

The bilateral meeting was held on the sidelines of the ASEAN-Russia Commemorative Summit that will be co-chaired by the two leaders.

“Apparently, we are approaching the present threshold with an immense capital of mutual beneficial cooperation underpinned by good traditions of mutual respect and respect for legitimate interest of each other. Last year, bilateral trade exceeded $.5 billion. Of course, this is far from the limit. And of course, there is a good potential to enhance supplies of agriculture and energy resources,” Putin said.

In response, Marcos said he appreciated the “forward-looking exchange on the different structural issues” that affect trade between their nations.

“And as you have mentioned, Your Excellency, we – there are many potential areas that I think we should 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,” he said.

He noted that during the Joint Commission on Trade and Economic Cooperation (JCTEC) held in Moscow in September 2025, energy security and food security emerged as their mutual concern.

“We note that during the JCTEC meeting held in Moscow, energy and food security emerged as a mutual – one of the mutual priorities of both our countries. And that is why we again, that B2B component at the sidelines of the JCTEC enabled Philippines and Russia to establish networks and to explore joint ventures,” he said.

Putin also noted that this is Marcos’ first visit to Russia, which coincided with the chairship of the Philippines of the ASEAN.

The regional bloc and Russia are also commemorating 35 years of relations, which will be reviewed during the ASEAN-Russia Commemorative Summit.

Putin also congratulated the Filipino people for celebrating the 128th declaration of Philippine Independence on June 12, which he said is also a national holiday in Russia.

He also mentioned the 1976 visit of Marcos’ father and namesake, then President Ferdinand Marcos Sr. to Russia.

The Philippines and Russia are also marking 50 years of diplomatic relations this month.

After the bilateral meeting, Putin and Marcos attended a gala along with other heads of government. — JMA, GMA News