As part of the Department of Trade and Industry – Export Marketing Bureau’s (DTI-EMB) approach in expanding Philippine exports, the Philippines will participate in an Outbound Business Matching Mission (OBMM) to Moscow, Russia on September 20 to October 01, 2019.
This mission is in collaboration with the Philippine Trade and Investment Center (PTIC) – Moscow and Department of Agriculture (DA). The OBMM is just in time for the WorldFood Moscow 2019 that will be held on September 24 – 27, 2019 at the Crocus Expo International Exhibition Center, Moscow, Russia.
The delegation will be composed of 14 Philippine food companies who will feature tropical fruits and juices, artisanal chocolates, banana chips, crackers and biscuits, virgin coconut oils and other coconut products, noodles, condiments, and fishery products.
There will be business matching sessions and market scanning. The delegates will also have a briefing with the Eurasian Economic Commission (EAEC) to inform them on the preferential tariffs provided to beneficiary countries including the Philippines. The EAEC is an economic union composed of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia with a consumer base of over 170 million.
The OBMM will also provide opportunities for exporters of fishery products which were recently accredited by Russia to promote their products.
“We are now looking at Russia as an emerging market for Philippine exports as we take advantage of the improving trade relations of both countries,” DTI – Trade Promotions Group Undersecretary Abdulgani M. Macatoman said.
WorldFood Moscow is a recognized international food and drink exhibition in Russia which could be an entry point for international manufacturers who aim to penetrate the Russian market. The event connects thousands of businesses from around the world with Russia’s key food and drink buyers, including retail representatives from Russia’s leading supermarket chains, wholesalers, hotel-restaurant-café sector, and food manufacturers.
In 2018, Russia was the Philippines’ 21st trading partner with a total bilateral trade valued at US$1.36 billion or 0.74% of total Philippine trade with the world valued at US$182.15 billion. It is the 33rd export market valued at US$86.07 million or 0.12% share of the total Philippine exports to the world valued at US$69.31 billion and 19th import source accounting for US$1.27 billion or 1.13% share of the total Philippine imports from the world valued at US$112.84 billion.
Moreover, the exports of food products is valued at US$17.12 million in 2018. The top 3 Philippine food exports to Russia were desiccated coconuts, other fruits, nuts, and bananas, including plantains, fresh or dried.
Stay updated with news and information from the Department of Trade & Industry by visiting their website at https://www.dti.gov.ph.