Philippines offers farm products to Saudi

Maktoob Business | April 29, 2009

The Philippines has offered to become a major source of agricultural products to Saudi Arabia ahead of a planned visit by the kingdom’s agricultural minister Fahd Balghunaim, Arab News reported on Wednesday.

“We will offer all cooperation and investment facilities to Saudi investors so that the Philippines would become a major source of agriculture imports to the Kingdom,” Philippine foreign secretary Alberto Romulo said.

He noted that his country imported most of its petroleum products from Saudi Arabia while it hoped the country would continue to make investments in the Philippines’ petroleum sector.

Gulf countries import vegetables and grains from other parts of the world as arable land is scarce in the region. They are looking to purchase agricultural land in Asia and Africa to secure long-term food supplies.

Emirates Investment Group said on Tuesday it was in the process of acquiring farmland in Pakistan to export more food to the Gulf region.

EIG, a private-sector investment company based in Sharjah, already exports vegetables and grains such as rice and wheat from Pakistan to the Gulf and sees big opportunity in acquiring farm territory in troubled Pakistan.
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