Philippines seeks to strengthen rice cooperation with Vietnam to ensure food security

Philippine Agriculture Secretary Francisco Laurel has expressed the need to strengthen the country's rice cooperation with Vietnam to ensure food security due to increasing population and rice demand. The Philippines, currently dependent on Vietnam as its largest rice supplier, is struggling to meet its domestic rice supply as its population continues to grow at a rate of 1.5% annually. In an effort to enhance this partnership, Laurel has suggested that the Vietnam Rice Corporation consider investing in the Philippines. This proposal follows a recent agreement between the two nations on rice trade and agricultural cooperation, amidst the Philippines' decision to reduce rice tariffs from 35% to 15% due to inflationary pressures.

According to the Manila Times on July 9, Philippine Agriculture Secretary Francisco Laurel expressed his hope to strengthen cooperation with Vietnam in the rice field to ensure its food security during his visit to Vietnam. Vietnam is the world's third largest rice exporter, and the Philippines has been its largest buyer in recent years. Francisco Laurel said during a meeting with Vietnamese officials: "The Philippines' population is growing by 1.5% each year, driving its demand for rice, while domestic supply has not kept up, so it has to increase imports." Francisco Laurel also hopes that Vietnam Rice Corporation will consider investing in the Philippines. In January this year, during ...