The Department of Agriculture (DA) on Thursday said the Philippines and South Korea have signed a memorandum of understanding (MOU) promoting the agricultural development of both countries in terms of mechanization and farm modernization.
In a news statement issued on Thursday, the DA said Agriculture Secretary William D. Dar and Korea Agricultural Machinery Industry Cooperative (Kamico) Chairman Kim Shin-gil signed the MOU, reaffirming Manila and Seoul’s partnership to bolster the agricultural mechanization last Wednesday in Daegu, South Korea.
The MOU seeks to promote technical collaboration on research and development, capacity enhancement and the establishment of an agri-machinery manufacturing complex in the Philippines.
According to the DA, Kamico proposed to bring in about 30 agri-machinery companies to invest in farm equipment assembly and manufacturing.
For his part, Kim also conveyed Kamico’s interest to strengthen the agricultural cooperation between the Philippines and South Korea through its partnership with the DA.
“The increased agricultural mechanization would result in enhanced agricultural productivity so that the Philippines would be able to attain food security, raise the incomes of its farmers, and boost its capability to expand agricultural exports,” he said.
The DA has vowed its support by investing in various manufacturing equipment, such as tractors, rice transplanters, rice mills, tillers and plows, cultivators, greenhouses, agricultural product dryers, balers and other equipment essential for the production of high-value crops, prevention of epidemics in livestock, among others.
Kamico, recognized by the Korean government, is a special nonprofit cooperative with 580 agricultural machinery manufacturer-members in South Korea.
Dar, meanwhile, expressed his appreciation to Kamico in assisting the Philippines as it develops its agricultural sector.
“This renewed partnership with Kamico poses great opportunity for the Philippines as it paves the way for the Philippines and Korea to boost agricultural cooperation and to develop collaborative projects that would advance the Philippines’s agriculture sector,” said Dar.
In February, through its Farm Equipment and Machineries Loaning Program, the DA has offered P400-million loan to farmers who want to buy modern machinery and equipment to improve their productivity.