The Philippines and Vietnam on Tuesday signed agreements to further boost the prevention of incidents and management in the South China Sea as well as rice trade and, agriculture and cultural cooperation during the state visit of President Ferdinand 'Bongbong' Marcos Jr.
In a press release, the Presidential Communications Office (PCO) said that the two nation have agreed to enhance its 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 through its memorandum on Incident Prevention and Management in the South China Sea.
Foreign Affairs Secretary Enrique Manalo signed on behalf of the Philippine government in a ceremony held at the Presidential Palace of Vietnam.
Meanwhile, 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 coastguards of two countries.
Other agreements
Aside from the said agreements, the two countries also signed 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.
Meanwhile, 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.
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.
