A cooperation agreement to this effect was being considered by the five countries which belong to the Ayeyawady-Chao Phraya-Mekong Economic Co-operation Strategy (ACMECS), the Vietnamese trade ministry said.

The agreement would cover transfer of farming techniques and sharing of global market information to strengthen the region’s competitiveness.

Vietnam has already signed a similar agreement with Thailand, and the two countries plan to meet in Hanoi next month to discuss implementation of the accord.

According to the Ministry of Agriculture and Rural Development, rice exports topped 1.8 million tons in the first five months fetching US$580 million, a year-on-year decline of 21 per cent and 8 per cent.

The ministry said the decline had been caused by logistical challenges, including difficulty in leasing ships, increase in freight charges, and bad weather which hindered the loading of rice bags onto ships for export.

This year Vietnam expects to export around 5 million tons, Thailand 8 million tons, Cambodia about 300,000 tons, and Myanmar around 100,000 tons.

The Philippines recently bought 280,000 tons of 25-per-cent broken rice from Vietnam at of $328.96-348.99 per ton to be delivered between June and August.

Source: VNA