Romualdez secures rice supply deal with Vietnam
Martin Romualdez —GRIG C. MONTEGRANDE
Speaker Martin Romualdez on Monday said that he has secured Vietnam’s commitment to provide the Philippines with a stable and affordable rice supply.
On the eve of the 44th Asean Interparliamentary Assembly in Jakarta, Indonesia, on Sunday, Romualdez met with National Assembly of Vietnam Chair Vuong Dinh Hue to discuss measures to further boost bilateral trade between the two countries, which is expected to hit $10 billion.
Hue is Vietnam’s top legislator and was former minister of finance.
In a statement on Monday, Romualdez said that the assurance of rice supply from Vietnam could “dampen” possible price spikes of the staple caused by the widespread damage wrought by Typhoon “Egay” (international name: Doksuri) on farmlands and the threat of the El Niño phenomenon.
Vietnam might limit export
President Marcos had previously expressed concern over the country’s supply of the basic staple due to challenges in local rice production as well as the July 20 export ban by India, the world’s largest rice exporter, which could affect global rice prices and hit consumers in Africa and Asia.
Article continues after this advertisementMr. Marcos had pointed out that while Vietnam is traditionally the primary source of Philippine rice imports, the likely influx of other buyers might cause Vietnam to limit its export.
Article continues after this advertisementRomualdez said that Vietnam’s commitment could avert a shortage in the supply of rice in the country and ensure that the staple remains affordable.
The Speaker, in turn, committed to provide Vietnam with specific products, particularly other agricultural products and construction materials, it may need to meet the demand of its industries or consumers.
He further assured Hue on “broadening the areas of cooperation” between the two countries, in particular between their respective parliaments and in the areas of energy transition and digital transformation.
Hue also invited Romualdez and Senate President Miguel Zubiri to visit Vietnam to reciprocate the warm reception he received from members of Congress during his visit to the Philippines in November last year, when he was presented a copy of adopted House Resolution No. 34 aimed at boosting cooperation between the two countries through the setup of the Philippine-Vietnam Parliamentarians’ Friendship Society. INQ
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