Kazan: President Ferdinand R. Marcos Jr. and Russian President Vladimir Putin on Wednesday explored ways to expand cooperation in food and energy security as they marked 50 years of diplomatic relations between the Philippines and Russia. The two leaders held a bilateral meeting on the sidelines of the ASEAN-Russia Commemorative Summit in Kazan, where Marcos is participating in his capacity as ASEAN Chair. According to Philippines News Agency, in his opening remarks, Marcos highlighted the significance of the meeting as Manila and Moscow celebrate the golden anniversary of diplomatic ties established on June 2, 1976. 'It is a particularly significant time for us to be meeting as this is the 50 years celebration of Philippine-Russian ties,' Marcos said. The President welcomed efforts by both countries to commemorate the milestone and stressed the importance of maintaining regular political consultations between their foreign ministries. Marcos also invited Putin to attend the 21st East Asia Summit in Manila in November, saying the forum remains vital in promoting 'a stable, secure, and prosperous region.' The Philippine leader noted that while bilateral trade has remained steady, there remains significant room for growth. 'There are many potential areas that I think we should still open to explore and I think that the present level of trade, although it is steady, I think that this is - there is a great deal more that we can do,' Marcos said. He pointed out that energy and food security emerged as key priorities during the fourth meeting of the Joint Commission on Trade and Economic Cooperation held in Moscow last year. Marcos also cited ongoing efforts by both countries to expand business-to-business cooperation, including partnerships in innovation, retail products, cosmetics, food processing, and industrial collaboration. For his part, Putin said Russia and the Philippines have built a relationship anchored on mutual respect and shared interests over the past five decades. 'Apparently, we are approaching th e present threshold with an immense capital of mutually beneficial cooperation underpinned by good traditions of mutual respect and respect for legitimate interests of each other,' Putin said. The Russian leader noted that bilateral trade exceeded USD500 million last year and said there remains substantial potential for expansion. 'Of course, this is far from the limit. And of course, there is a good potential to enhance supplies of agriculture and energy resources,' he said. Putin also congratulated Filipinos on the 128th anniversary of Philippine Independence and recalled the 1976 visit of former President Ferdinand E. Marcos Sr. to the then Soviet Union, which paved the way for the establishment of diplomatic relations. The meeting came as ASEAN and Russia commemorate 35 years of dialogue relations, with leaders expected to discuss cooperation in trade, security, science and technology, food and energy security, and regional development.