PHL committed to ensure regional food security, says Aquino

April 3, 2012 11:53 pm 

PHNOM PENH, Cambodia, April 3 — President Benigno S. Aquino III told his counterparts in the Association of Southeast Asian Nations (Asean) that the Philippine government has already ratified the Asean Plus Three Emergency Rice Reserve (APTERR) agreement that will strengthen food security in the region.

“As an indication of our shared desire to bring about better quality of life for our peoples, I am pleased to inform you that the Philippines has ratified the Asean Plus Three Rice Reserve Agreement in March 2012,” the President said during the Plenary Session of the 20th Asean Summit here in Cambodia.

The Philippines is looking forward for the implementation programs under the initiative for the benefit of the people in the Asian region.

Asean’s partners in the agreement include China, Japan and South Korea, which have committed to finance the rice reserve agreement.

Under the pact, Asean members and China, Japan and South Korea are to disburse million respectively to put up an endowment fund.

Indonesia, Brunei Darussalam, Malaysia, the Philippines, Thailand, Singapore and Vietnam contribute US$ 107,500 , respectively while Cambodia, Laos and Myanmar allot US$ 83,000 each.

The agreement calls for the 13 countries to provide rice stock of 787,000 tons as buffer for sudden instabilities in rice supply and production. (PNA) RMA/PCOO/ssc

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