The left-leaning fisherfolk alliance Pamalakaya and staunch ally KMP on Thursday exposed what they called a secret agricultural pact between the Philippines and Bahrain.

The issue of farmland investments is expected to be raised in the first ministerial meeting between Gulf Cooperation Council (GCC) countries and the Association of South East Asian Nations (ASEAN) on June 29-30 in Manama.

Eam Ngamdamronk, vice chairman of CP Group, said it was a flexible agreement in which investment could be made in Bahrain, Thailand and also in third countries.

From Kansas to Kenya, investment opportunities in a range of global farm-related ventures are increasingly drawing capital to what many players and analysts see as the early days of a burgeoning bull market in agriculture.

Thailand's Ministry of Commerce says the law is quite clear -- foreign developers cannot invest in the country's agricultural sector, especially the farm sector.

The Guyana government has rolled out several invitations to regional investors that included land offers for agricultural purposes.

Thai rice farmers and exporters strongly oppose the Gulf Cooperation Council's interest in investing in the Thai farming sector

Gulf oil producers are considering plans to invest in farming projects in the Philippines to face a steady increase in domestic food demand and reduce a painful import bill, said the region's private sector leader.

Al Salam and CP Group will jointly identify suitable agribusiness ventures that will generate attractive risk-adjusted returns while playing a proactive role in addressing food security in the region.

A hunt by investors for a bright spot in the global economic downturn has led to the farm.

Bahrain-based Islamic bank Al Salam said on Sunday it has signed an agreement with Thailand's agriculture and food company Charoen Pokphand Foods to jointly invest in agricultural businesses.