Author: Jasper Y. Arcalas
Any views expressed in this article are those of the author and not of Philippine Statistics Authority.
The Philippines and other Asean countries would be able to cut poverty faster if they would cut tariffs on rice and eliminate trade barriers, according to the latest study released by the Organisation for Economic Co-operation and Development (OECD).
In its recent study, titled “OECD-FAO Agricultural Outlook 2017-2026”, the OECD said an Asean integrated rice market, where tariffs are scrapped and nontariff barriers are reduced, would ensure food security among developing countries in Southeast Asia.
“The development of the Asean Economic Community [AEC] extends well beyond agriculture and aims to allow for the free flow of goods, services, investment and skilled labor across the region, along with the free flow of capital,” the study read.
“As such, it has the potential to significantly impact growth opportunities in the region, agricultural competiveness [within countries and for the region globally], along with important policy focuses, such as food security,” it added.
In this kind of trade environment—where free flow of commodities are assured within the regional bloc—the 10 member-countries will ensure that they will be food secure in the mid- to long-term run, according to the OECD.