News Release

PH, Viet Nam sign agreements on rice trade, agriculture, SCS incident prevention and management

The Philippines and Viet Nam on Tuesday signed agreements on rice trade cooperation, incident prevention and management in the South China Sea, agriculture and cultural cooperation during the state visit of President Ferdinand R. Marcos Jr. to Viet Nam.

Among those signed include the Memorandum of Understanding (MOU) on Rice Trade Cooperation, Understanding on Incident Prevention and Management in the South China Sea, Memorandum of Understanding on Cooperation in Agriculture and Related Fields, Memorandum of Understanding between the Philippine Coast Guard (PCG) and the Viet Nam Coast Guard (VCG) on Maritime Cooperation, and Cultural Cooperation Program between the National Commission for Culture and the Arts of the Republic of the Philippines and the Ministry of Culture, Sports and Tourism of the Socialist Republic of Viet Nam for the Period of 2024-2029.

The MOU on Rice Trade Cooperation creates a framework for rice cooperation between the Philippines and Viet Nam to ensure and establish sustainable food supply amidst the impact of climate change, pandemics, and other events external to both countries.

Under the MOU, Viet Nam agreed on a five-year trade commitment to supply, through its private sector, white rice to Philippine private sector, amounting to 1.5 million to 2 million metric tons (MT) per year at a competitive and affordable price.

Apart from rice trade, the Philippines and Viet Nam are also expected to exchange information on policies, plans and regulations, and other rice-trade related activities.

On Incident Prevention and Management in the South China Sea, the two nations agreed to enhance coordination regarding maritime issues bilaterally, within the ASEAN and with other dialogue partners, with both sides intensifying efforts to promote trust, confidence, and understanding, through dialogue and cooperative activities.

The MOU on agriculture cooperation will intensify tie up between the Philippines and Viet Nam in the fields of agriculture, rural development, and other related fields, as well as establish 19 areas of cooperation including high value crops, livestocks, and aquaculture, farm management and sustainability, smart agriculture and aquaculture technology, research trainings, and exchanges of experts.

On the other hand, the MOU on Maritime Cooperation is aimed at strengthening the understanding, mutual trust, and confidence between the two parties through development of a Joint Coast Guard Committee to discuss common issues and interests between the PCG and VCG. A hotline communication mechanism will be established between the PCG and VCG.

And through the Cultural Cooperation Program, the Philippines and Viet Nam will expand cultural exchanges and strengthens friendly relations in accordance with the Cultural Agreement signed between the two nations in 1998. PND