The Market Monitor Minding the Nation's Business
The Philippines and Lao People’s Democratic Republic (PDR) are looking at establishing a joint genetic bank for rice development in their bid to promote innovation in crop cultivation.
A Memorandum of Understanding would be signed between Agriculture Secretary Francisco Tiu Laurel Jr. and Lao PDR Agriculture and Forestry Minister Linkham Douangsavanh next year, Business Mirror reported.
“The proposed agreement marks a significant step forward in strengthening agricultural cooperation with our ASEAN partner, Lao PDR,” Laurel said.
“It will provide a framework for collaboration on a wide range of agricultural issues.”
Other key initiatives were also outlined in the MOU, such as enhancing the value chains for various agricultural products, including rice, corn, coffee, fruit trees, tea, livestock, and fisheries and implementing best practices for efficient water usage in agriculture.
Joint efforts to tackle agricultural challenges through shared research initiatives and prioritizing effective pest control practices to safeguard crops were also included in the agreement.
The DA said the Southeast Asian countries plan to develop strategies to address the impacts of climate change on agricultural productivity and facilitate trade in agricultural products like rice, sugarcane, and coffee, as well as addressing imported commodities in the Philippines.
They also aim to collaborate to bolster the overall food security of the ASEAN region.
“The proposed agreement signals a commitment to fostering resilient agricultural sectors in both countries, ultimately aiming for a more secure and sustainable food future in the region.”
The DA recently met with Italian Minister of Agriculture Francesco Lollobrigida to strengthen agricultural partnerships and affirm the two countries’ commitment to sustainable food systems and trade.
The Philippines and Italy also agreed on a draft MOU with the goal of improving the country’s productivity to benefit millions of farmers, according to Laurel.
“Italy’s agricultural machinery industry is world-class, and the Philippines can greatly benefit from this expertise as we modernize our agricultural sector.”
Laurel also stressed opportunities for Italian firms to contribute through smart agriculture technologies and irrigation systems, aligning with the Philippines’s goals of agro-industrialization and climate-resilient agriculture.
“Our partnership in agriculture reflects the shared vision of our two nations. We look forward to finalizing our agreements and ensuring sustainable, inclusive, and resilient food systems.”