The Department of Agriculture (DA) said the cooperation agreement the government recently signed with Cambodia should help the Philippines diversify its global market for agricultural products.
“Cambodia will gradually be an important agricultural trading partner as the country diversifies its markets, particularly for rice,” DA Secretary Francisco Tiu Laurel Jr. said in a statement Thursday.
The memorandum of understanding (MOU) on Agricultural and Agribusiness Cooperation signed Tuesday by the two countries is expected to boost investments in rice production and trade.
The Philippines was also invited to invest in Cambodia’s expanding rice production sector, with opportunities to establish rice milling facilities.
Laurel expressed enthusiasm over the prospect, highlighting the role of the DA’s Food Terminal Inc. in such investments.
The two countries, both members of the Association of Southeast Asian Nations (Asean), agreed to explore potential rice trade cooperation, contingent on the respective laws of both nations, while exploring possible trade in vegetables and meat as well.
Trade between the Philippines and Cambodia in 2023 amounted to $80.50 million with agricultural products accounting for $20.40 million.
The MOU also envisions enhanced collaboration in areas such as agricultural planning, animal feed development, animal health protection, irrigation management and agricultural marketing systems.
Based on data from the Bureau of Plant Industry, the country imported a total of 4.81 million metric tons (MT) of rice in 2024. Of this volume, 3,460 MT or 0.07 percent came from Cambodia.
