Phl’s agri-trade potential pushed with Brunei business leaders

The Department of Agriculture (DA) is looking at strengthening diplomatic relations between the Philippines and Brunei by leveraging agriculture trading in the country, with DA Secretary Francisco Tiu Laurel Jr. underscoring the Philippines’ potential in the global market.

In a forum with business groups, Agriculture Secretary Francisco Tiu Laurel Jr., who accompanied President Ferdinand Marcos Jr. during his recent state visit to Brunei, underscored the Philippines' robust domestic market for various agricultural commodities.

“Our President’s visit figures to further invigorate bilateral relations between the Philippines and Brunei in various areas. The Philippine Department of Agriculture is certain that this remarkable event will lead to partnerships and collaborations that will further deepen our economic ties in the field of agriculture,” Laurel told the business forum.

Export potentials

He highlighted that the country has an export potential of around $2.7 billion for tropical fruits and vegetables, $452 million for fish and shellfish, and $2.2 billion for processed foods and beverages.

“Stimulating this potential are our preferential trade agreements with other countries,” Laurel said, who then described the country as a “fertile ground for trade partnerships and agribusiness investments.”

“We are inviting investors to collaborate with our private sector and institutions and leverage technological advances for productivity gains,” he said, adding that investors can also contribute to sustainable practices and build resilient supply chains.