PH, Vietnam finalizing 5-year rice trade cooperation

JAKARTA, Indonesia — The Philippines and Vietnam are finalizing a rice trade agreement that will take effect for five years, according to Vietnamese Prime Minister Pham Minh Chinh.

“Our two countries will conclude an inter-government agreement on rice trade so that our rice export to the Philippines will ensure food security in the Philippines,” Pham said during his bilateral meeting with President Ferdinand “Bongbong” Marcos Jr. here.

“We look forward to having a stable framework of cooperation on rice trade for a long period of at least five years,” he added.

According to Pham, this agreement will ensure imports from Vietnam to the Philippines.

In early August, Speaker Ferdinand Martin Romualdez announced that Vietnam has committed to provide stable rice supply to the Philippines.

Romualdez said the Philippines secured the pledge during his meeting with his counterpart, Vuong Dinh Hue, National Assembly of Vietnam president, during the 44th Association of Southeast Asian Nations Inter-Parliamentary Assembly in Indonesia.

In response, Romualdez offered to provide Vietnam with specific products and materials it may need to meet the demand of its industries or consumers. —KBK, GMA Integrated News