LAPU-LAPU CITY, Cebu — The Philippines and Vietnam are looking to establish a long-term rice trade mechanism as part of efforts to ensure a stable supply and strengthen food security cooperation between the two countries, President Marcos said Thursday, May 7.

President Marcos discussed the proposed arrangement during his bilateral meeting with the newly elected Vietnamese Prime Minister Lê Minh Hưng on the sidelines of the 48th Association of Southeast Asian Nations (ASEAN) Summit here.

According to the Presidential Communications Office (PCO), both leaders agreed to pursue stronger agricultural cooperation, particularly in rice trade.

“On agriculture, both sides agreed to establish a long-term rice trade mechanism aimed at ensuring stable supply and strengthening food security cooperation between the two countries,” the PCO said.

During the meeting, President Marcos congratulated Hưng on his recent appointment and welcomed him to his first ASEAN Summit.

The two leaders also highlighted the significance of the 50th anniversary of the Philippines-Vietnam bilateral relations this year.

“Both leaders underscored the significance of the 50th anniversary of Philippines–Viet Nam bilateral relations, expressing confidence that the milestone would pave the way for stronger cooperation, particularly in trade and economic engagement,” the PCO said.

Aside from agriculture and trade, the Philippines and Vietnam also discussed expanding cooperation to combat transnational crime.

The two countries specifically cited scam hubs and human trafficking as areas requiring closer coordination.

“The two leaders also discussed expanding cooperation in addressing transnational crimes, including scam hubs and human trafficking,” the PCO said.

Both sides likewise agreed to enhance collaboration in tourism as they seek to strengthen people-to-people exchanges and economic ties.