President Ferdinand R. Marcos Jr. and Vietnamese Prime Minister Lê Minh Hưng on Thursday agreed to establish a “long-term rice trade mechanism” aimed at ensuring stable supply and strengthening food security cooperation between the Philippines and Vietnam.

The agreement was discussed during their bilateral meeting on the sidelines of the 48th Association of Southeast Asian Nations (ASEAN) Summit.

Both leaders emphasized the importance of enhancing agricultural cooperation amid regional and global supply concerns.

The two officials also discussed expanding collaboration in combating transnational crimes, including scam hubs and human trafficking, as well as strengthening tourism cooperation between the two countries.

Marcos also extended his congratulations to the Vietnamese leader on his recent appointment as prime minister and welcomed him to his first ASEAN Summit.

The two leaders likewise underscored the significance of the 50th anniversary of Philippines-Vietnam bilateral relations, expressing confidence that the milestone would further deepen trade, economic, and people-to-people ties.

Vietnam remains one of the Philippines’ major rice suppliers, with Manila relying on imports to help stabilize domestic supply and prices.

The bilateral meeting forms part of a series of engagements being held on the sidelines of the 48th ASEAN Summit hosted by the Philippines (PNA)