Vietnam, Philippines to establish rice alliance
(VOVWORLD) - Vietnam and the Philippines have agreed to establish a rice alliance and upgrade their trade relationship to an investment partnership in the rice industry.
The consensus was reached during a recent visit to Vietnam by Philippine Secretary of Agriculture, Francisco Tiu Laurel Jr.
Mr. Laurel said that the Philippines will explore opportunities to import machinery and technology from Vietnam for rice cultivation, starting with fertilizer import. The two sides also discussed promoting cooperation in the fisheries sector.
The Philippines imported nearly 2.2 million tonnes of rice in the first half of this year, with nearly 1.6 million tonnes coming from Vietnam, according to Secretary Laurel.
Vietnam has been the largest supplier of rice to the Philippines for decades. The Philippines is also the largest rice export market for Vietnam, accounting for 35-40% of the country's total rice export turnover, he said.