Philippines and Vietnam Aim to Expand Trade and Address Imbalances
The Philippines and Vietnam are working to expand their bilateral trade to $20 billion, up from the current $15 billion, while addressing a trade imbalance that favors Vietnam. The Department of Agriculture in the Philippines is focusing on boosting exports to Vietnam and improving the enforcement of agricultural trade agreements, particularly in the rice sector. Vietnam is the largest source of imported rice for the Philippines, contributing to a significant trade deficit. Both countries are also looking to enhance contract enforcement to ensure more reliable trade transactions. Additionally, they are planning to increase direct flights as part of a tourism cooperation program. 
