Sunday, November 24, 2024 7:21:25 PM - Markets open
VN-INDEX 1,228.10 -0.23/-0.02%
HNX-INDEX 221.29 -0.47/-0.21%
UPCOM-INDEX 91.70 +0.20/+0.21%
Vietnam, Philippines agree to establish a rice industry alliance
vietnamnews - 7/10/2024 2:36:17 PM
 (0 ratings. You must sign in to rate.)
Agriculture ministers of Vietnam and the Philippines agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship into an investment partnership.
 
 
Rice packs loaded for export. The Philippines is the largest market for Việt Nam, accounting for 35-40 per cent of the country’s total exports. — VNA/VNS Photo Vũ Sinh
 
Agriculture ministers of Vietnam and the Philippines have agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship into an investment partnership in the rice industry.
 
During a talk on Tuesday in Hanoi Lê Minh Hoan, Vietnamese Minister of Agriculture and Rural Development, said that the Philippines is the largest rice export of Việt Nam, accounting for 35-40 per cent of the country’s total exports.
 
The ministry’s statistics showed that Việt Nam’s rice export totalled 4.68 million tonnes in the first half of this year, worth US$2.98 billion, an increase of 104 per cent in volume and 32 per cent in value over the same period last year.
 
Vietnam’s rice industry has been making significant transformations in production, domestic consumption and exports in the context of rapid changing global market and consumer tastes as well as climate change, Hoan said.
 
“Vietnam has been focusing on improving quality, reducing costs, adapting to climate change, reducing emissions, ensuring the national food security, expanding export markets and building sustainable rice brands in the international markets,” he said.
 
Hoan said rice production plays a core role in ensuring the national and regional food security, as well as promoting economic development, ensuring social stability and leveraging the position of Vietnam in the international arena.
 
With the sustainable agriculture and rural development strategy by 2030 with a vision to 2045, Vietnam is aiming at green and low-emission agriculture value chain.
 
The Philippine's Secretary of Agriculture Francisco Tiu Laurel Jr, in response, said that the country has imported 2.17 million tonnes of rice in the first half of this year, of which 1.59 tonnes were from Vietnam. Vietnam has been the largest rice supplier to the Philippines for dozens of years.
 
Last week, the Department of Agriculture of the Philippines visited Cửu Long (Mekong) River Delta to study the 1-million-ha rice cultivation model.
 
Addressing challenges that the Philippines’ agriculture industry is facing, including low productivity and scattered production, which are weighing on food security, Francisco asked Vietnam to establish a rice industry alliance between the two countries. This will promote the rice trade relationship into an investment partnership.
 
He said that the Philippines will study the opportunities to import machinery and technologies from Vietnam to apply in rice cultivation in the Philippines. The first thing would be for the country to import fertilisers from Vietnam.
 
Agreeing with Francisco, Hoan said that the investment partnership in the rice industry will allow Vietnam to send appropriate technologies to optimise the rice production chain of the Philippines, instead of exporting just milled rice.
 
Not only rice, Hoan also urged greater cooperation in the fishery sector. — VNS
 
Read original article here
Newer News
23/11 VN's food processing industry struggles to improve quality and value chain integration
23/11 Car imports increase 37.5 per cent in 10 months
22/11 Vietnam resolved to boost digital economy with national action plan
22/11 General Department of Customs warns of tax evasion schemes in steel imports
21/11 VN must diversify its textile export markets
21/11 Shrimp exports surge in 10 months, generating US$3.2 billion
21/11 Vietnam aims to increase rice market share in Africa
20/11 Trade growth between Vietnam and Americas promoted by FTAs
20/11 Enterprises urged to tap potential to expand official exports to EU
19/11 Solutions discussed to ensure coal supply for electricity generation in 2025
Older News
10/07 Korean food firms eye Vietnam as a potential market
10/07 Vietnam holds significant potential to emerge as a global and regional logistics hub
10/07 Maintaining and elevating Vietnam's wood and furniture industry
10/07 Budget collection from exports-imports up 8.4 per cent in H1
10/07 Higher GDP forecasts on robust economic recovery and new growth drivers
10/07 Vietnam, Malaysia promote bilateral trade cooperation
10/07 Special policies proposed to develop the semiconductor industry
08/07 Intellectual property serves as foundation for net zero
08/07 Ministry offers two scenarios for economic growth in H2
08/07 Favourable conditions in place for stronger fruit exports
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 3:05:02 PM
VN-INDEX 1,228.10 -0.23/-0.02%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.