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Vietnam approves Asean+3 emergency rice reserve agreement

Publication Date : 27-04-2012

 

Vietnam Deputy Prime Minister Vu Van Ninh approved the Asean+3 Emergency Rice Reserve (APTERR) agreement yesterday, which the Ministry of Agriculture and Rural Development will implement.

Under the APTERR agreement, country members agreed to provide 787,000 tonnes of rice to enhance the quick response capacity of Asean+3 when supply and production are affected by natural disasters.

Under the agreement, Vietnam and Myanmar will each contribute 14,000 tonnes, Thailand 15,000 tonnes, Indonesia and the Philippines 12,000 tonnes each, Malaysia 6,000 tonnes, Singapore 5,000 tonnes, and Brunei, Laos and Cambodia 3,000 tonnes each. China, Japan and South Korea will provide 300,000 tonnes, 250,000 tonnes and 150,000 tonnes respectively.

Ninh also agreed that Vietnam would take part in the rice emergency stock coordinated by APTERR's secretariat. The Ministry of Agriculture and Rural Development and the Ministry of Finance have been assigned the task of proposing the form and level of emergency assistance offered for the Prime Minister's final approval.

The APTERR agreement is important to price stability in Asean+3 countries.

 

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