Negosyante News

December 29, 2024 3:32 am

PH Eyes 1M MT Annual Rice Import from Pakistan

The Department of Agriculture (DA) announced ongoing discussions with Pakistan to secure an allocation of at least 1 million metric tons (MT) of rice annually for the Philippines.

Negotiation Details

  • The potential deal, expected to be finalized by June 2025, would cover about 25% of Manila’s annual rice import requirements, according to the DA.
  • This development follows a meeting on December 16 between Agriculture Secretary Francisco Tiu Laurel Jr. and Pakistan’s Ambassador to Manila, Dr. Imtiaz Kazi.

Pakistan’s Growing Role in Rice Supply

  • Pakistan is the third-largest rice supplier to the Philippines, after Vietnam and Thailand.
  • Kazi proposed a formal Memorandum of Understanding (MOU) to cement the annual allocation, offering rice at a competitive price.

Trade Expansion and Tariff Discussions

  • The envoy sought confirmation on the continuation of reduced tariffs on imported rice, which Tiu Laurel said could extend until 2028, if deemed necessary.
  • Both parties also discussed diversifying trade opportunities, with Pakistan encouraging the Philippines to export mangoes, bananas, and durian to its Muslim market.
  • Secretary Tiu Laurel expressed interest in Pakistan’s advanced expertise in irrigation, post-harvest technology, and Halal certification to enhance the Philippines’ agricultural sector.

This strategic partnership aims to strengthen agricultural trade ties between the two nations and reshape rice import dynamics for the Philippines.

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