The Ministry of Trade and Industry of Vietnam yesterday reported that Vietnam and the Philippines have just reached a trade agreement on extending Vietnam’s rice exports to the Philippines in the period of 2017- 2018.
The Philippines has always been an important market on exporting rice of Vietnam.
Pursuant to the trade agreement, Vietnam will provide 1.5 million tons of rice for the neighboring country each year.
From 2011- 2015, the Philippines has always been an important market on exporting rice of Vietnam. Annually, the country has imported from 500,000 to nearly 1.5 million tons of rice of Vietnam.
In the period of 2011- 2015, the country has made up for 17-20 percent of Vietnam's total rice volume being exported in the world.