Thursday, 25/05/2017 16:45 (GMT+7)
A Memorandum of Understanding (MoU) on rice trade between the Vietnamese and Bangladeshi Governments was signed on May 23rd, in Hanoi.
The signing ceremony. (Photo: CPV)
Under the 5-year MoU Vietnam will provide 1 million tons of rice of all kinds to Bangladesh each year, depending on the demand and price of the world market.
Right after the signing, the Bangladeshi side announced that it would buy about 250,000-300,000 tons of 5% broken rice of Vietnam. The partner invited Vietnamese traders to Bangladesh at the earliest convenient time to work on and negotiate prices, volume and mode of delivery for the order.
In addition, Bangladesh also expressed its hope of purchasing a total of about 500,000 tons of Vietnamese rice from now to the end of 2017.
According to Minister of Industry and Trade Tran Tuan Anh, the MoU marked an important milestone in the good traditional relations between Vietnam and Bangladesh, helping enhance and further promote the economic relations and trade.
In addition, the deal would maintain a long-term and stable legal framework on rice trade, so that Vietnam will possibly ensure food security for Bangladesh in the circumstance of the country facing difficulties.
The first ever Governmental level MoU on rice trade between Vietnam and Bangladesh was signed on April 18th, 2011, in Hanoi, and it was dated until December 31st, 2013. After that, on January 2nd, 2014, the two sides re-signed to extend the deal, making it effective until December 31st, 2016./.
BTA