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The Philippines’ President Ferdinand Marcos has invited Russian President Vladimir Putin to the 25th Association of Southeast Asian Nations (ASEAN) Summit to take place in Manila in November.
The Philippines is chairing ASEAN during 2026, with Marcos saying that “This year is a special time for this summit because it marks 35 years since the establishment of relations between ASEAN and Russia. Our interaction is on a good level, and we are grateful for the strategic exchange of views on various structural issues concerning trade between the two countries, and there are plenty of potential cooperation tracks yet to be explored. The level of trade between Russia and the Philippines is stable, but its potential has not been fully realised.”
Compared to other countries in Southeast Asia, such as Vietnam or Thailand, Russia and the Philippines are only beginning to establish stable trade and logistics ties. During the Russia-ASEAN summit in Kazan, Vladimir Putin noted that the trade turnover between Russia and the Philippines exceeded $500 million in 2025. According to him, this is not the limit, and there is potential for further growth in supply, including in key areas. “There is an opportunity to increase the volume of agricultural products and energy resources,” the Russian leader said.
Work is currently underway to improve the legal framework, expand trade, and launch joint projects in the energy sector, agribusiness, pharmaceuticals, digital technologies, and energy, which remain priority areas for bilateral cooperation. The Philippines began importing Russian oil earlier this year in response to the closure of the Strait of Hormuz.
As of June 2026, the Philippines was one of the top three importers of Russian pork in terms of monetary value. Shipments are growing rapidly: in the first five months of 2026, revenue exceeded US$28 million (more than 11,500 tons), and the monthly volume remains above 2,700 tons. In addition, the Philippines is home to Salmon, a fintech startup founded by former Tinkoff Bank employees, which provides microfinance services.
Currently, the Philippines and Russia are discussing new areas of cooperation, ranging from agricultural products and energy resources to logistics projects. The Russian president’s visit to Manila in November 2026 for the ASEAN summit could provide a significant impetus for the implementation of these plans.
