Businesses need to be cautious about exporting rice to Philippines

18-Oct-2019 Intellasia | VOV | 6:02 AM Print This Post

Despite the Philippine Department of Agriculture ending safeguard probes into rice imports, the Ministry of Industry and Trade has recommended that local businesses remain cautious about exporting rice to the Philippines.

This comes following a public announcement by the Philippine Department of Agriculture (DA) stating that it has terminated its preliminary investigation into the application of global safeguard measures on rice imports.

The investigation was first initiated by the DA on September 11, 2019, who noted that a sudden increase in rice imports were causing serious damage to Filipino farmers.

After receiving notice from the DA regarding the start of the investigation, the Ministry of Industry and Trade (MoIT) has been active in providing information and cooperating with the Vietnam Food Association, and other relevant ministries and agencies to handle the case.

In September, the MoIT worked with a number of agencies from the Philippines in order to voice Vietnam’s viewpoints with regard to their actions.

The halting of the investigation into the application of safeguard measures on rice imports will serve to create better conditions for local businesses to continue to export rice to the Philippines in line with the current mechanisms.

Despite this, the Philippines are still able to impose a number of other measures under regulations set by the World Trade Organisation and Asean, which will make an impact on the volume of rice imports.

As a result, the MoIT will work together with the Ministry of Agriculture and Rural Development and the Vietnam Food Association in the near future in order to keep a close watch on the situation to be prompt in dealing with new circumstances.

The MoIT has also recommended that domestic enterprises be prudent when exporting rice to the Philippines, whilst also applying technical measures as a means of preventing risks if possible.

https://english.vov.vn/economy/businesses-need-to-be-cautious-about-exporting-rice-to-philippines-404727.vov

 


Category: Economy, Vietnam

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