Vietnam & Philippines target boosting two-way trade to $10bln


Prime Minister Pham Minh Chinh meets President Ferdinand Romualdez Marcos Jr. in Indonesia on May 10.

Prime Minister Pham Minh Chinh and Philippine President Ferdinand Romualdez Marcos Jr. agreed to raise two-way trade turnover to $10 billion through measures to facilitate the opening of markets for each other’s key exports, including agricultural products, food, and rice.

During their meeting on the sidelines of the ongoing 42nd ASEAN Summit in Indonesia on May 10, they also agreed to deepen cooperation in fields where the two countries boast potential and strengths, such as agriculture, industry, high technology, tourism, marine economic development, education and training, and climate change response.

Prime Minister Chinh said Vietnam is ready to supply rice to the Philippines in a strategic, long-term, and stable manner at appropriate prices, thereby helping the country ensure its food security.

Appreciating Vietnam’s goodwill, President Marcos affirmed that Vietnam is an important partner of the Philippines. He hopes the two sides will promote the role of private enterprises in economic and investment cooperation.

Source: VnEconomy