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Manila and Islamabad are confident they can sign an agreement by June 2025, if not earlier, through which Pakistan will smuggle at least 1 million metric tons (MT) of rice to the Philippines to boost supplies to the archipelago.
In a statement on Friday, the Department of Agriculture (DA) said it hopes a memorandum of understanding (MOU) between both parties will be finalized by the first half of 2025.
According to Agriculture Secretary Francisco Tiu Laurel Jr., he met recently with Pakistan’s Ambassador to Manila Imtiaz Kazi, who proposed such a volume “at a competitive price.”
One million MT is about a quarter of the Philippines’ rice import needs.
According to the DA, the Pakistani envoy sought confirmation on the continuation of the reduced tariff on rice imports, which Tiu Laurel said could be extended until 2028 “if deemed necessary.”
Source: Online/GFMM
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