"Despite the booming development of electronic commerce and digital technologies, the regulation in the sphere of global trade still exists in its old framework, in the 40-year-old paradigm, and raw materials markets remain unstable", Medvedev said at the ASEAN-2017 summit.
President Rodrigo Duterte has promised Russian Prime Minister Dmitry Medvedev that two Russian nationals charged of drug smuggling in the country will get a "fair trial".
Duterte also brought up the topic of Russians Yuri Kirdyushkin and Anastasia Novopashina, who are now detained in the Philippines on drug-related charges.
"To host such event is a hard work and I know that today you have had very lots of meetings with different heads of government, state and government delegations that is hard and quite tiring", Medvedev told Duterte during their bilateral meeting.
Duterte, for his part, thanked Medvedev for Russia's assistance to the Philippines during the Marawi crisis.
"We were able to use the rifles and the arms that you gave us on time", he added, noting that it was a Russian sniper model which neutralized one of the top three commanders of the Daesh-inspired terrorists.
As a result, the rest of Duterte's bilateral meetings with Japan, India, South Korea and Russian Federation were moved to 8 p.m. onward.
He told Medvedev the Philippines only need a "small opening" to reach this market.
Duterte said he intends to put up a trade house in Moscow where the Philippines can showcase Filipino products.
In talks with the South Korean president, Medvedev said Russian Federation is interested in participating in the so-called "nine bridges" initiative, which could substantially boost commercial ties in crucial areas, he said.
Duterte's one-on-one meeting with Medvedev was initially scheduled to begin at 7:45 p.m., but Duterte had a bilateral meeting with US President Donald Trump that extended beyond an hour.
However, he made special mention of Russia's interest in supporting the Philippines' fight against terrorism.
"Prime Minister Medvedev said his country was willing to work closely with the South Korean side for the Korea-EAEU FTA", Yoon said in a press release, adding the Russian prime minister also expressed hope for increased cooperation between the two countries in the fishery and agriculture sectors.