Saudi Arabia may soon supply the Philippines with Urea fertilizer as President Ferdinand "Bongbong" Marcos Jr. expressed interest in seeking agricultural ties with the Arab country.
Fertilizers and agriculture as well as renewable energy and digital infrastructure were among the focal points of the President's recent meeting with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud at the Malacañang, Department of Foreign Affairs (DFA) Assistant Secretary for the Office of Middle East and Africa Alfonso Ver told reporters Friday.
"We need Urea... The Foreign Minister promised that in fact they're setting up production. They will provide new supplies that will address supply... provide a stable supply of urea for the entire world, and that's very easy for them and they have the capability already," Ver said.
Prince Faisal landed in the Philippines Wednesday night before separately meeting Marcos Jr. and his Filipino counterpart, DFA Secretary Enrique Manalo, the following day.
After the meetings that primarily focused on investments, the Philippine government agreed to review the at least 30 pending agreements it has with the Saudi government so they can all be polished upon the visit of Crown Prince Mohammed bin Salman (MBS) before the year ends.
"The first thing we have to do is to get the pending agreements that will provide the framework and the background for all these," Ver said.
"I think there's so many agreements that are pending on both sides, and we need those to give confidence to the investors," he added.