TWO private sector groups representing Thailand and the Philippines signed an agreement supporting the regionwide agriculture micro, small and medium enterprise (MSME) development plan, Go Negosyo founder Jose Maria "Joey" Concepcion 3rd said Thursday.

In a statement, Concepcion said the Association of Southeast Asian Nations Business Advisory Council (ABAC) Thailand is the latest to sign to the agriculture-MSME development plan initiated in the Philippines.

THAILAND MAKES NINE Asean Business Advisory Council (ABAC) Thailand becomes the ninth state to sign the memorandum of understanding (MoU) to a regionwide private sector-led agriculture-MSME development plan initiated in the Philippines. Present for ABAC Thailand were (seated, from left) Vathit Chokwatana, Visit Limlurcha, Kobsak Duangdee, with Asean BAC Philippines Chairman Jose Maria "Joey" Concepcion 3rd, Go Negosyo Senior Adviser Dr. William Dar, and ABAC Philippines' George Barcelon and Michael Tan. On hand to witness and to reaffirm the commitment of the council heads to pursue the objectives of the MoU were (standing, from left) Thanongsinh Kanlagna (Laos), Moe Kyaw (Myanmar), Dr. Robert Yap (Singapore), Oudet Souvannavong (Laos), Chanthachone Vongsay (Laos), Jukhee Hong (Malaysia) and Asean BAC Executive Director Gil Gonzales. CONTRIBUTED PHOTO

He said Thailand's signing "brings to near-completion the consensus among the Asean BACs of nine Asean-member states to bring together agriculture companies from the private sector to conduct possible joint business ventures and increase trade and investment within the region."

"This is an absolute win for the Asean, for its MSMEs, and for agriculture and food security in the region," said Concepcion, chairman of ABAC Philippines.

"Successful ventures made possible by the regionwide partnerships can result in the agriculture sector's development by involving more players across the value chain, especially farmers and fisherfolk," he added.

The signing of memorandum of understanding (MoU) was held during the 99th Asean BAC Council Meeting on Jan. 29, 2024 at Luang Prabang, Laos.

It was led by Concepcion and Kobsak Duangdee, ABAC Thailand chairman, and witnessed by the ABAC Council heads.

The areas of collaboration with Thailand cover rice, banana, vegetables, and palm oil.

ABAC Philippines initiated the project with each Asean member-state, starting with Malaysia, which signed its MoU last July.

This was followed by the ABACs of Brunei, Cambodia, Singapore, Laos, Myanmar, and Indonesia, who all signed last September in time for the Asean Business Investment Summit, with President Ferdinand Marcos Jr. and Cambodian Prime Minister Hun Manet as witnesses.

The MoUs covered the exploration of joint partnerships in knowledge and technology development; trade and investment opportunities; research and development; and strategies in sustainable agriculture, among others.

The agri-MSME development partnerships are patterned after Go Negosyo's Kapatid Angat Lahat sa Agri Program (Kalap) which aims to integrate small farmers into the value chain of large agri companies, also called "big-brother companies," under the program.

Kalap is an initiative of Go Negosyo, the nonprofit organization founded by Concepcion, to promote entrepreneurship and advocate for the development of Filipino MSMEs.

During the meetings in Laos, it was also decided that the Philippines should chair the technical working group on Food Security of ABAC in 2024.

An initial trade mission has been tentatively scheduled on April 23 and 24, coinciding with the 100th ABAC meeting on April 25 in Kuala Lumpur, Malaysia, to facilitate engagement between key industry players from the Philippines and Malaysia, as part of the MoU implementation.

The objective is to explore collaborative opportunities and exchange best practices in sectors including oil palm, rubber, rice, dairy, poultry, pineapples, durian, banana, coconut, and corn, and generate mutual commercial benefits for both parties.

Other ABAC member countries who have endorsed the MoU will also embark on similar trade missions.