House Speaker Martin Romualdez (Speaker’s office)

House Speaker Martin Romualdez has secured Vietnam’s commitment to provide the Philippines with a stable supply of rice at affordable prices. 

This positive development came during Romualdez’s side meeting Sunday, Aug. 6 with Vuong Dinh Hue, President of the National Assembly of Vietnam, in Jakarta, Indonesia. 

Sunday was the eve of the formal opening of the 44th ASEAN Parliamentary Assembly (AIPA) General Assembly, which Romualdez intended to attend. 

Rice is the staple food of Filipinos. The Philippines is a major rice importer. 

It could be recalled that President Ferdinand "Bongbong" Marcos Jr. expressed concern over the country’s rice supply amid the widespread damage to farmlands caused recently by Super Typhoon "Egay" and the threat posed by the El Niño phenomenon on rice production. 

Likewise, the export ban imposed last July 20 by India--the world’s largest rice exporter---is expected to cause ripples in global rice prices that would affect millions of consumers, particularly in Africa and Asia. 

Vietnam is traditionally the main source of Philippine rice imports, but as other buyers crowd in, President Marcos said supply might become limited and the country may have to find an alternative supply source, like India. 

The assurance from Vietnam will help boost the Philippines' rice supply and dampen possible price spikes fueled by speculation over possible shortages. 

In exchange for this assurance, Romualdez said the Philippines is willing to provide Vietnam with specific products and materials it may need to meet the demand of its industries or consumers. 

Romualdez also told Hue that he is looking forward to broadening the areas of cooperation between the two countries, in particular between the respective parliaments and in the areas of energy transition and digital transformation. 

Likewise, the two leaders of parliament discussed opportunities for partnership and cooperation to improve the supply chain between the Philippines and Vietnam involving other agricultural products and construction materials, such as cement. 

Meanwhile, Hue invited Romualdez to visit Vietnam to reciprocate the warm reception he received from members of the House of Representatives during his visit to the Philippines in November last year.