Philippines seeks way to reduce costs, raise food production
The Philippine Government has recently said that it is looking to sign import deals with some of the world's biggest fertiliser suppliers, including China and Russia, to help lower costs and increase food production amid high inflation.
Vegetables and fruits in Philippines (Photo: Getty images)
Hanoi (VNA) – The Philippine Government has recently said that it islooking to sign import deals with some of the world's biggest fertilisersuppliers, including China and Russia, to help lower costs and increase food productionamid high inflation.
The country’s President Ferdinand Marcos Jr. plans to workwith China, Russia, Indonesia, the United Arab Emirates and Malaysia to securefertiliser supplies at favourable prices, according to a statement issued byhis office.
Marcos also vowed to boost agricultural output over the nextsix months, expressing his hope that the Southeast Asian country will reduceits reliance on food imports and avoid being hit hard by a food crisis loomingover the world.
Agriculture officials have warned of higher local prices ofrice, the country's staple food, in the coming months partly due to surgingcosts of fertiliser, supplies of which have been disrupted by the Russia-Ukrainewar. The Philippines imports most of its fertiliser needs.
Partly driven by higher costs of some food items, Philippineinflation averaged 4.4% in H1, above the official 2%-4% target band, with theJune rate of 6.1% being the highest in nearly four years.
Marcos said he was looking to formally inform all fivecountries of his plan to buy a certain volume.
The Philippines uses 2.5 million tonnes of fertilisers everyyear, according to the Fertilizer and Pesticide Authority./.
Malaysia’s strategy to tackle inflation and rising cost of living has shown results, especially on chicken and egg issues, Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said.
Addressing the ceremony, Indonesian Ambassador Simon D.I. Soekamo, the rotating Chair of the ASEAN Committee in Cuba, highlighted the bloc's spirit of friendship and solidarity, and reaffirmed ASEAN's core values of peace, stability, and prosperity through cooperation and dialogue.
Vietnam’s pavilion notably displayed traditional crafts from the centuries-old lacquerware village of Ha Thai and Chu Dau ceramics. The atmosphere was further enriched by delegations wearing their countries’ traditional costumes, including the elegant ao dai and the graceful ao tu than of Vietnamese women.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
Vegetables and fruits in Philippines (Photo: Getty images) 
