Rice producing members of Asean plan to set up cartel

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20 August 2009

Major Asean rice-producers Thailand, Vietnam, Laos, Cambodia and Myanmar plan to form an association to create a sustainable system for trading and production, reported Indonesia’s state news agency Antara.

The plan was unveiled Wednesday following Cambodian leader Hun Sen's initiative at the Asean Summit in Cha-am in late February. The initiative focuses on price stabilisation, food security in the region and rice development, aiming for price stability next year.

It comprises the five countries of the Ayeyawady-Chao Praya-Mekong Economic Cooperation Strategy (Acmecs) and will set up an Acmecs Rice Traders Association.

Thailand, Laos and Cambodia have agreed in principle and plan talks with Cambodia and Myanmar during the Asean Economic Ministers Meeting.

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