PHL eyes shipping bananas to Russia as new export market

The Philippines is eyeing Russia as one of the top destinations for agriculture products, the Department of Finance said Monday.

"We would like our own companies to penetrate further. (We see) Russia as a new market for agricultural products," Finance Secretary Carlos G. Dominguez IIII told the Senate Finance Committee during a hearing on the proposed 2017 budget.

The government is looking at exporting tropical fruits to Russia such as bananas, and vegetables, Dominguez said.

The goal is to "strengthen and exploit countries other than our traditional trading partners," the Cabinet official noted.

Dominguez said the government is now looking at ways to embark on exploring new markets, noting that President Rodrigo R. Duterte wants open investment areas to more foreign participants.

"I think the recalibration of the President of foreign policy will certainly open a lot of opportunities for us," he said.

Earlier, the President said his administration will pursue an independent foreign policy, and that he's ready to deal with China and Russia. — VDS, GMA News