PH, Vietnam to establish long-term rice trade mechanism

Philippine President Ferdinand “Bongbong” Marcos Jr. and newly elected Vietnamese Prime Minister Le Minh Hung on Thursday agreed to establish a long-term rice trade mechanism that seeks to ensure stable supply and strengthen food security cooperation between the two countries.

The agreement was made during the bilateral meeting between the two leaders on the sidelines of the 48th Association of Southeast Asian Nations (ASEAN) Summit and Related Meetings in Cebu, according to the Presidential Communications Office (PCO).

The PCO said Marcos and Hung also discussed expanding cooperation in addressing transnational crimes, including scam hubs and human trafficking.

Enhancing collaboration between the Philippines and Vietnam in terms of tourism was also tackled.

The PCO said the two leaders also stressed the significance of the 50th anniversary of Philippines–Vietnam bilateral relations, “expressing confidence that the milestone would pave the way for stronger cooperation, particularly in trade and economic engagement.”

Marcos also congratulated Hung on his new role as prime minister and welcomed him to his first ASEAN Summit.

Earlier on Thursday, Marcos attended the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA Summit).

The Philippine president said the discussions at the summit would feature key milestone programs and projects “that are already making a big difference in our communities, creating livelihoods, strengthening connectivity, and expanding opportunities, especially in the sub-region's growth areas.”

“These successes remind us that regional cooperation delivers its greatest value when it uplifts local communities,” Marcos said.

“Let this summit renew our resolve to translate vision into action and plans into lasting impact. Together, let us continue building a more connected, resilient, and prosperous BIMP-EAGA for present and future generations,” he added.

The BIMP-EAGA is a cooperation initiative that seeks development in remote and less developed areas in the Philippines, Brunei Darussalam, Indonesia, and Malaysia. — VBL, GMA News