GOVPH

Demand for Phl Coconut Coir Rises in Russia

Philippine Ambassador to Russia Carlos D. Sorreta (right) speaks with Mr. Asker Askerov, Financial Manager of the Russian company, “Borisoglebskoe,” which is set on investing in the Philippines in partnership with a local manufacturer of coco coir.

07 September 2017 — Mr. Asker Askerov, Financial Manager for “Borisoglebskoe,” a Russian company producing fertilizers for Russia and international markets, and Mr. Nathaniel Morales, representative of “Niel’s Good People Industry,” paid a call on Philippine Ambassador to Russia Carlos D. Sorreta on August 24 at the Philippine Embassy in Moscow. The two businessmen said that their companies are in the process of realizing a partnership which would generate investments in the Philippines through the processing and exporting of coco coir.

According to Mr. Askerov, there is increased demand in Russia for Philippine coco coir, particularly in the fertilizer industry. He further said that coco coir from the Philippines is both competitively priced and easy to extract and export, adding to its appeal to Russian buyers. Per DTI, in 2016, the volume of export of Philippine coco coir to Russia amounted to roughly USD 33,000. In spite of this, the raw coconut fiber which is readily available in the Philippines is attracting more Russian buyers such as “Borisoglebskoe” which seek top-quality raw materials at a more competitive price.

Mr. Askerov also shared the vision of his company’s CEO, Mr. Kirill Chegodaev, who “fell in love with the Philippines” and decided to invest in the Philippines to help the local community as well. In response, the Ambassador stated that, “It is certainly going to benefit the lives of more Filipinos in the agriculture sector to work for such companies that invest also in their care and welfare. This is a worthy cause for any foreign investor in our country.”

Ambassador Sorreta cited the Philippine Economic Zone Authority and the Department of Trade and Industry – Board of Investments as two important agencies which extend support to foreign investors wishing to establish their operations in “agri ecozones”. At the endof the meeting, the Ambassador conveyed his sincere hope in the forging of a strong partnership between the Russian and Philippine enterprises.

For more information, visit www.moscowpe.dfa.gov.ph. END

From left: Mr. Nathaniel Morales of “Niel’s Good People Industry Corporation,” Mr. Askerov, Ambassador Sorreta, and Third Secretary and Vice Consul Catherine Alpay pose for a photo after the meeting. Photos by S. Pamocol