Russian-Philippine Business Forum was held by ASEAN-Russia Business Council, the Department of Industry and Trade of the Republic of the Philippines and the Russian Chamber of Commerce and Industry on the 4 of October 2019. The event was attended by over 300 representatives of state authorities and business of the two countries. Within the business forum the president of the Republic of the Philippines Rodrigo Duterte deliver a keynote speech. “Currently, the Russia-ASEAN Business Council is developing an initiative to create strategic partnership territories in ASEAN countries. Under such a mechanism, Russian companies will be able, together with regional partners from ASEAN countries, to create their representative offices or to establish production enterprises (capacities), which will allow consumers to present a wide range of high-tech products. We invite our Filipino friends to join in a joint study of this initiative, ”said Ivan Polyakov, Chairman of the Russia-ASEAN Business Council. President Duterte called on Russian companies to actively invest in the development of infrastructure facilities in the Republic of the Philippines, stressing that favorable conditions have been created for this. He also empathized the high potential of cooperation in the field of high technology, pharmaceutical industry, food industry. As a result of the forum, a number of agreements and memoranda were signed in the field of development of trade, economic and investment cooperation. Among them are a memorandum of understanding between the Department of Industry and Trade of the Republic of the Philippines and the Russia-ASEAN Business Council, an agreement on cooperation in the field of nuclear energy between the Department of Energy of the Republic of the Philippines and JSC Rusatom Overseas, as well as an agreement on cooperation in the food industry between Century Pacific Food and PJSC "Magnit".