Philippines eyes stronger agricultural trade relations with US

MANILA, Philippines — The Philippines is boosting agricultural and trade cooperation with the United States as it eyes more investments to propel the growth of the local farm sector.

The Department of Agriculture recently inked a memorandum of understanding with the US-ASEAN Business Council to institutionalize partnership and strengthen agricultural cooperation.

This, as the Philippines steps up efforts to boost the local agribusiness sector by promoting agricultural cooperation, trade, and investments to help jumpstart the country’s economy amid the pandemic.

The agreement pushes for cooperation in the areas of livestock production and animal health, agricultural trading and investment, plant science, agricultural technology and digital agriculture, food safety, and inclusive business and sustainability.

Agriculture Secretary William Dar had a teleconference with US-ABC president Alex Feldman to discuss the implementation of partnership projects between the DA and US-ABC, particularly in building a more resilient food system for improved livelihoods, nutrition, and health.

“I hope we can also accelerate digital transformation to help generate new revenue streams and improve the livelihoods of rural communities,” Dar said.

Dar shared with the US-ABC the country’s recovery plan for the sector toward the new normal, including initiatives in attracting investments in agriculture, fisheries, post-harvest facilities, and food logistics, among other agribusiness ventures.

“There is a great opportunity to grow Philippine agribusiness more, not only at this time of the pandemic, but continuously over the longer term,” Dar said.

“We need a strong agribusiness sector to achieve inclusive, and sustainable economic growth, and keep our people food secure. We need to invest in an agribusiness sector that is resilient, modern, and well-integrated with the rest of the local and global economy,” he said.

The US-ABC is a premier advocacy organization for US corporations, serving as the leading voice of the American private sector in promoting mutually beneficial trade and investment relationships between the US and Southeast Asia.