MANILA – President Ferdinand R. Marcos Jr. on Thursday stated that the Philippines considers Vietnam as an “important partner” in ensuring food security.
He made the statement during a bilateral meeting with Vietnamese Prime Minister Pham Minh Chinh on the sidelines of the 40th and 41st Association of Southeast Asian Nations (Asean) Summit and Related Summits in Phnom Penh, Cambodia.
Marcos cited during their meeting that Vietnam accounts for 90 percent of the Philippines’ rice imports.
He told Chinh that he looks forward to working closely with Vietnam and having greater engagement toward enhancing relations in agriculture and other areas, such as trade, investment, defense, and maritime security.
“As we have observed, the Philippines and Vietnam since the beginning of our diplomatic relationship have had a burgeoning, a growing relationship, both in the political and security side and of course, in terms of trade and in people-to-people exchanges,” Marcos said.
The President welcomed the increased total trade between the Philippines and Vietnam but noted a significant trade imbalance between the two countries.
He voiced hope that Vietnam would aid the Philippines address this problem.
“In the past few years, we have seen the great success, the great economic success that Vietnam has enjoyed and with that, even Filipino investors have started to go to Vietnam to be part of this development in your country, and since then our trade has increased,” he added.
Earlier, the Philippines reestablished the Philippine Trade and Investment Center in Ho Chi Minh, which is expected to enhance economic relations between Vietnam and the Philippines.
Marcos also said the continued dialogues would be beneficial, including intelligence and strategies exchanges in dealing with maritime concerns.
Meanwhile, Chinh expressed eagerness to work with the Philippines in addressing maritime issues, specifically illegal fishing, and balancing trade.
He stressed the need for new approaches in addressing the present challenges and called for adherence to the Declaration on the Conduct of Parties in the South China Sea.
The Vietnamese leader also commended Marcos for the Philippine government’s effective coronavirus disease 2019 (Covid-19) response and for achieving one of the highest gross domestic product (GDP) growth rates in Asia.
The Philippine Statistics Authority said the Philippines has de-escalated quarantine protocols and posted a GDP growth of 7.6 percent despite a high inflation environment.
