SINGAPORE — Ten Southeast Asian nations plus Japan, China and South Korea are close to achieving their goal of establishing an emergency rice reserve to deal with sudden instability in supply and production.
Agricultural and forestry ministers from the 13 countries aim to sign the agreement when they meet in October in Cambodia, following more meetings among senior officials to thrash out the details.
It would be the first time for the region to have a permanent mechanism for an emergency rice reserve and stock based on cooperation among the 10 members of the Association of Southeast Asian Nations and the three Northeast Asian countries.