BBM, Vietnam PM strike rice supply deal

President Ferdinand Marcos Jr. and Vietnamese Prime Minister Lê Minh Hưng on Thursday agreed to pursue a long-term rice trade mechanism aimed at ensuring stable supply and reinforcing food security cooperation between the Philippines and Vietnam.

The agreement was reached during their bilateral meeting held on the sidelines of the 48th ASEAN Summit in Cebu.

Both leaders underscored the importance of strengthening agricultural cooperation amid concerns over regional and global food supply stability.

Aside from rice trade, the two officials also discussed wider cooperation in addressing transnational crimes such as scam hubs and human trafficking, as well as boosting tourism exchanges between the two countries.

Marcos likewise congratulated Hưng on his recent appointment as Vietnam’s prime minister and welcomed him to his first ASEAN Summit.

The two leaders also highlighted the significance of the 50th anniversary of Philippines-Vietnam diplomatic relations, expressing optimism that the milestone would further deepen bilateral trade, economic cooperation and people-to-people ties.

Vietnam remains among the Philippines’ top rice suppliers, with Manila depending on imports to help stabilize local supply and keep rice prices manageable.

The bilateral meeting was among several high-level engagements conducted on the sidelines of the ASEAN Summit being hosted by the Philippines.