The Philippines and Cambodia have forged a significant cooperation agreement that paves the way for increased investment in Cambodia’s agriculture, particularly in rice production and trade.
The Memorandum of Understanding (MOU) on Agricultural and Agribusiness Cooperation was signed during the official visit of Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet to the Philippines.
Agriculture Secretary Francisco Tiu Laurel Jr. and Cambodia’s Minister for Agriculture, Forestry, and Fisheries Dith Tina formalized the MOU in the presence of President Ferdinand R. Marcos Jr. and Prime Minister Hun Manet at Malacañan Palace.
“We are inviting the Philippines to invest in Cambodia’s expanding rice production sector, with opportunities to establish rice milling facilities.”
During a bilateral meeting the day prior, Minister Dith Tina invited the Philippines to invest in Cambodia’s expanding rice production sector, with opportunities to establish rice milling facilities.
Tiu Laurel expressed enthusiasm over the prospect, highlighting the role of the Department of Agriculture’s Food Terminal Inc. in such investments.
The two countries also agreed to explore potential rice trade cooperation, contingent on the respective laws of both nations. In addition, discussions are underway to explore trade in vegetables and meat.
“Cambodia will gradually be an important agricultural trading partner as the country diversifies its markets, particularly for rice,” the agriculture chief said.
“Trade between the Philippines and Cambodia in 2023 totaled $80.50 million, with agricultural products accounting for $20.40 million.”
Trade between the Philippines and Cambodia in 2023 totaled $80.50 million, with agricultural products accounting for $20.40 million. The Philippines has a trade deficit with Cambodia, data from the Philippine Statistics Authority showed.
The MOU further envisions enhanced collaboration in areas such as agricultural planning, animal feed development, animal health protection, irrigation management, and agricultural marketing systems.
Both countries will also explore the exchange of non-Geographical Indication-protected plant commodities to foster agricultural diversity and innovation.
This strengthened partnership aims to promote sustainable agricultural growth, boost trade, and improve food security in both nations.
