Overview

• Philippines and Vietnam have signed two memoranda of understanding (MoUs) to enhance cooperation between their coast guards and prevent incidents in the disputed South China Sea.
• The agreements were signed during a state visit to Hanoi by Philippine President Ferdinand Marcos Jr., who referred to Vietnam as the Philippines' sole strategic partner in the ASEAN region.
• Both countries have had tense confrontations with China, which claims almost the entire South China Sea as its sovereign territory.
• Alongside the maritime agreements, the two countries also signed a key deal on rice, with Vietnam agreeing to supply up to 2 million tonnes of white rice to the Philippines annually.
• Philippine President Marcos also met with Pham Nhat Vuong, chairman of Vietnamese conglomerate Vingroup, which announced plans to open an electric vehicle business network in the Philippines.