Strong IP laws in Brunei will promote economic growth, boost investor confidence

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Strong-IP-laws-in-Brunei-will-promote-economic-gro-30284769.html

Quratul-Ain Bandial
The Brunei Times
HOME AEC AEC NEWS WED, 27 APR, 2016 1:00 AM

BANDAR SERI BEGAWAN – As Brunei marks “World Intellectual Property Day” on April 26, promoting a strong IP rights framework has been at the heart of many key trade deals.

Free trade agreements such as the Trans-Pacific Partnership (TPP) are seen as crucial to diversifying the domestic economy away from oil and gas, as the sultanate tries to boost private sector growth and foster a ‘pro-business’ environment.

Deputy Minister of the Ministry of Foreign Affairs and Trade Erywan Mohd Yusof, said before the TPP can be ratified, Brunei will have to accede to the Madrid Protocol for the International Registration of Marks – a key global IP instrument.

The protocol allows a trademark owner to seek registration in any of the countries that have joined the treaty by filing a single application.

“It gives companies and investors confidence that Brunei is a regulated market… There are few laws which we need to upgrade and review in order to ratify (the TPP),” he said.

According to the Brunei Intellectual Property Office (BruIPO), the sultanate has until the end of the year to accede to the protocol, as per its commitment under the Asean IP rights Action Plan.

Brunei, Indonesia, Malaysia and Thailand will accede by end 2016, whilst Myanmar has until the end of 2018. BruIPO said Brunei hopes to endorse the treaty “in the coming months” and is currently in advanced stages of preparation.

“IP protection essentially ensures that you secure market share for your unique product and the more SMEs that we have looking to secure this market share and looking to secure profit, the better off the local economy will be,” Shahrinah Yusof Khan, director-general of BruIPO, said in a previous report.

“Whilst proving to have a high level of IP enforcement may help to attract FDI, on the local level, we hope that we can use IP as a business tool to help fuel the growth of our SMEs.”

In the past year, Brunei has also filed its first application via the Hague System for international registration of designs. Local atelier, Bajoo Boutique, filed the application for their signature Tutu Kurung design, after they saw knock-offs of the garments being sold in Kuala Lumpur.

The Hague System allows firms to register up to 100 designs in more than 60 territories through a single international application.

BruIPO said 1,062 foreign trademark applications were filed with the registry in 2015, as well as 71 local trademark applications.

Lao fashion designer showcases outfits in Singapore

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Lao-fashion-designer-showcases-outfits-in-Singapor-30284778.html

Sisouphan Amphonephong
Vientiane Times
HOME AEC AEC NEWS WED, 27 APR, 2016 1:00 AM

Viengkham Nanthavongdouangsy poses with her outfits./Vientiane Times

VIENTIANE – Viengkham Nanthavongdouangsy, co-founder and head of design and production at the Phaeng Mai Gallery in Vientiane recently had the chance to exhibit her fashion collection at the Asean Fashion Designers Showcase in Singapore.

Viengkham said the exhibition took place at the Orchard Gateway Hotel in Singapore earlier this month.

At the time, she was very excited about the event and greatly appreciated the opportunity to showcase her new collection, called Khang, alongside the works of other talented designers from Cambodia, Indonesia, Singapore, Thailand, and Vietnam.

The Asean Fashion Designers Showcase is a mini creation that sees designers from six Asean countries displaying six costume collections to represent the best that each country has to offer in the field of fashion.

A pop-up shop was available for participating designers to display their collections and brands, with each allowed to bring a total of 30 costumes.

Viengkham said she was very happy with the chance to showcase her fashion collection on the catwalk at this fashion event and promote Lao fabric designers to become more well-known on the international stage.

She explained that the Asean Fashion Designers Showcase permits each designer to exhibit a total of six outfits for the fashion shows but an additional 30 outfits are allowed for the pop up stores.

She brought her new brand “Khang” to showcase to the public’s eyes on the runway with foreign models parading her designs on the catwalk.Viengkham exhibited mostly items made from Lao silk, woven from the threads produced by silkworms and Okansa fabric, whose light textures produce a flowing and attractively glinting garment with an eye-catching sheen.

She said the fashions displayed at this event contained a modern twist and had to be garments that people can wear both during the day and in the evening, using the colours red, grey and gold.

This Singapore fashion show was a great opportunity to promote the burgeoning Lao fashion industry and show that the country’s designers are ready to compete with the best from the region and further afield.

It also served to encourage further cross cultural and creative collaboration while achieving mainstream regional brand awareness for all fashion designers as well as making them aware of how to tweak different styles, sizes and fabrications to suit each local country’s market.

Future plans are to nurture up-and-coming local fashion designers and models with the aim to foster a deeper understanding and appreciation of the fashion industry in the region.

Fashion counterparts in Thailand, Cambodia, Vietnam and Indonesia are now in the midst of planningAsean Fashion Designers Showcases in their respective countries to further promote the idea.

Yangon among Myanmar’s ‘industrial’ hubs

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Yangon-among-Myanmars-industrial-hubs-30284667.html

Myanmar Eleven
HOME AEC AEC NEWS TUE, 26 APR, 2016 1:00 AM

Japan eyes Vietnam as production base

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Japan-eyes-Vietnam-as-production-base-30284701.html

Viet Nam News
HOME AEC AEC NEWS TUE, 26 APR, 2016 1:00 AM

Workers produce wooden products with hi-tech production lines at the Japan-invested Savimex./Viet Nam News

HO CHI MINH CITY – The chairman of HCM City People’s Committee said at a conference held last Friday that the city sought continued support from Japan in the transfer of technology, ODA, management expertise and investment in several fields, including human resources, hi-tech agriculture, pharmaceuticals and tourism.

At the Vietnam-Japan Investment and Tourism Promotion Conference in Ho Chi Minh City, Nguyen Thanh Phong said Japan was a leading economic partner of Vietnam, especially of that city.

He said Vietnam had become a long-term investment site for the Japanese because of its convenient geographic location, stable politics, improved infrastructure and abundant and low-cost labour.

With more than 865 projects with a total registered investment capital of US$2.87 billion, Japanese ranks sixth out of countries and territories having investment in the city, he said.

In recent years, Japanese visitors have ranked first or second in the top 10 of foreign visitors to the city, and the number of Vietnamese visitors to Japan has also increased significantly.

The city expects to continue to receive co-operation and support from the Japanese Government and enterprises to improve the growth , he said.

“The city will always welcome and create favourable conditions for foreign investors, including Japanese, who come to seek long-term investment and business opportunities,” he said.

Speaking at the conference, a special advisor to the Japanese Prime Minister, Iijima Isao, who also led a delegation of 22 Japanese businesses to HCM City, said he believed that Japanese firms would continue to invest strongly in Vietnam, particularly in HCM City.

The Japanese busineses who visited the city this time are Japanese leading companies involved in pharmaceutical, medical, water and waste treatment, agricultural, transport, construction, logistics, manufacturing, tourism and IT sectors.

Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry, said the country’s participation in a series of free trade agreements, including the Trans-Pacific Partnership, had made it more popular among investors.

Recently, many investors from Japan, the US and EU have visited Vietnam to seek business opportunities, he said, adding that many companies had shifted their investments from China to ASEAN countries, including Vietnam.

Masuda Chikahiro, deputy chief of the Japan International Co-operation Agency (JICA) Vietnam, said Japanese companies wanted to penetrate the market of nearly 100 million people in Vietnam and use it as a production base for export.

He said that reform of the investment environment was needed to welcome a new investment wave to Vietnam.

Japanese firms, he said, were striving to overcome two difficulties, including the rate of locally-made products supplied to Japanese producers in Vietnam. This stands at about 33 per cent in 2014, much lower compared to some other countries in the region.

Secondly, the country’s human resources have yet to meet requirements of Japanese firms, he said.

Vietnam should solve issues such as these mentioned in the Vietnam-Japan Joint Initiative, he said.

At the conference, Pham Thiet Hoa, director of the Investment and Trade Promotion Centre of HCM City, told Japanese investors that the city was seeking investors for the 27.2 km monorail line No2 and the 6.3km underground monorail No6 projects, as well as the underground mall project at the Ben Thanh Central Station and the Saigon Safari project in Cu Chi District.

Indonesia to create forum to boost economy in regions

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Indonesia-to-create-forum-to-boost-economy-in-regi-30284703.html

Ayomi Amindoni
The Jakarta Post
HOME AEC AEC NEWS TUE, 26 APR, 2016 1:00 AM

Bank Indonesia (BI) governor Agus Martowardojo./The Jakarta Post

JAKARTA – The government is set to establish a regional forum for financial and economic coordination, in order to provide optimal support for the planning and implementation of economic and financial development in the regions.

Three government institutions, Bank Indonesia ( BI ), the Finance Ministry and the Home Ministry, say they are committed to strengthening their coordination and cooperation to speed up economic and financial development in the regions, as outlined in a memorandum of understanding ( MoU ) signed in Jakarta on Friday.

BI Governor Agus Martowardojo said the cooperation would be focused on three strategic activities, namely the synchronization and synergy of policies to accelerate the implementation of structural reform programs, the exchange of data and information and analysis related to economic and financial development in the regions and the establishment ofa regional forum for financial and economic coordination.

“Through this forum, various strategic issues will be discussed to produce policy recommendations on economic and financial development in the regions,” said Agus. He added that it was expected the forum could further integrate various forums, activities and initiatives related to economic and financial development in the regions.

Earlier, the government formed regional inflation control teams ( TPID ) to control inflation in the regions. Currently, there are 451 TPID set up across the country.

Agus explained that during the 2005 to 2010 period, Indonesia’s inflation rate stood at 8.5 percent. In 2010 to 2015, it went down to 5.8 percent and by the end of 2015, it had further declined to 3.35 percent. As of March 2016, Indonesia’s inflation was 4.45 percent.

The central bank governor said through closer coordination of the central government and local administrations, Indonesia’s inflation was expected to fall below 5 percent.

“With the regional coordination forums, it is expected that economic growth in the regions will improve, which will eventually boost the people’s welfare,” he added.

Finance Minister Bambang Brodjonegoro said the central government urged all local administrations to use their regional budgets efficiently. With an increase in regional transfer funds, it was expected all regions could contribute to the country’s economic growth.

“The transfer funds will decrease the burden of the central government but it is also expected that economic growth should increase, driven by the improved economy of the regions. Overall, it should begin with sound spending policies,” he explained.

In the 2016 state budget, the central government is set to transfer Rp770 trillion ( US$58.20 billion ) to regions and villages throughout the country.

Singapore consumer prices down in record slump

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Singapore-consumer-prices-down-in-record-slump-30284767.html

HOME AEC AEC NEWS TUE, 26 APR, 2016 1:00 AM

SINGAPORE – Singapore’s consumer prices fell for the 17th consecutive month in March, the longest period of decline on record, official data showed on Monday, hit by low fuel costs and as the city-state’s economy stutters.

Prices sank 1.0 per cent last month, down 0.2 per centage points from February, the central bank and trade ministry said in a joint statement. The drop comes as the weak oil market makes petrol cheaper, in turn lowering transport costs.

The longest period of falling consumer prices was between September 1975 and December 1976.

The central bank this month announced a shock loosening of monetary policy to kickstart the economy, as it forecast a slower growth outlook this year and analysts warned of a possible recession.

Official data last week showed that the city’s crucial exports fell at their fastest pace in three years in March because of falling shipments to major markets Europe and China.

“The slump in oil prices is certainly one of the key factors for the negative inflation,” DBS Group Holdings said in a research note before the data release.

DBS senior economist Irvin Seah also warned that the economy will continue to slow in coming months because of excess housing stock, as well as an increase in the number of certificates of entitlement — a licence to own a vehicle — issued, which would drive costs down.

Core inflation, which excludes private transport and accommodation costs, was up 0.6 per cent, from 0.5 per cent the month before.

– AFP

Elephant collapses and dies after carrying tourists in Cambodia’s Angkor Wat

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Elephant-collapses-and-dies-after-carrying-tourist-30284643.html

The Straits Times
Asia News Network
SINGAPORE
HOME AEC AEC NEWS MON, 25 APR, 2016 2:46 PM

The female elephant reportedly collapsed and died after making two trips to an Angkor Wat temple. PHOTO: YEM SENOK/FACEBOOK.

An elderly female elephant trained to carry tourists at Angkor Wat collapsed and died last Friday.

A news daily reported that the elephant, whose age was estimated at around 40-45 years, drew its last breath near Bakheng Mountain, shortly after ferrying two tourists to one of the archaeological park’s temples.

It had been walking for about 40 minutes, said a spokesman from the Angkor Elephant company, who added that they were saddened by the loss.

The elephant had been working for the company since 2001.

“After our veterinarian checked…we concluded that she died of heart attack due to high temperatures and lack of wind,” the spokesman told the paper.

The temperature in Siem Reap reportedly hit a scorching 40 deg C on Friday.

Photos posted on Facebook by user Yem Senok, which showed the elephant lying on its side by the road, were shared over 8,000 times and sparked an outcry on social media.

A change.org petition was subsequently put up, calling for an end to elephant riding at the Angkor Wat.

It has since garnered over 12,000 signatures.

According to Jack Highwood of the Cambodia-based conservation group Elephant Livelihood Initiative Environment, there are still 13 elephants working for the Angkor Elephant Company – the largest concentration of captive elephants in the country. –

Indian universities keen to lure Myanmar students

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Indian-universities-keen-to-lure-Myanmar-students-30284608.html

KHINE KYAW
MYANMAR ELEVEN
HOME AEC AEC NEWS MON, 25 APR, 2016 1:00 AM

The third India Education Fair welcomed a number of visitors./Myanmar Eleven

YANGON – India expects to attract a greater number of students from Myanmar in coming years, confident the country is a good destination for higher education students.

Gautam Mukhopadhaya, Indian ambassador to Myanmar, said he anticipates many more students to go to India for their studies, as they can get very good quality education at much more affordable prices than offered in other English-speaking countries such as Australia and Singapore.

“India is a developing country like Myanmar and we have many cultural affinities,” he said.

“Most parts of India, especially in the east, are culturally very close to Myanmar. So, Myanmar students can feel at home. As food is also similar, they will feel comfortable. Generally, a three-year programme at an Indian university costs only about 400,000 rupees [Bt200,000] including accommodation, food and tuition fees. After finishing their degrees, they can also find a job with multinational companies,” he said.

“Education is an important pillar of India-Myanmar relations. And it is one area where India has a very good record in providing English language-based quality education. For several reasons, education is one area of |cooperation that we are interested in |promoting,” he said.

About 15 universities from India joined the third India Education Fair held in Yangon early this month. They included AIMS Institute, Mody University, Parul University, SRM University, VIT University, Assam University, ITM University, KIIT University, Amity University, Ajeenkya DY Patil University, PCTE Group of Institutions and Krupanidhi Group of Institutions.

Presiding over the event, the ambassador said the fair was a private initiative.

“I encouraged them to invest and start schools, colleges, and universities in Myanmar, when Myanmar’s rules and regulations |permit it. We would love it to be here.”

He noted that raising awareness was really important as Indian universities were not yet popular among Myanmar students.

According to Mukhopadhaya, the prospect was bright, as Myanmar people become more aware of India and its quality services.

“A lot of Myanmar medical patients are now going to India for medical treatment. As they go there, they will discover there are good schools. Then they will think of their children going to schools like that,” he said.

The envoy talked about the government-to-government scholarship programme of India’s Council of Cultural Relations under which close to 10,000 students from all over the world study in Indian universities. Nearly 25 Myanmar students have been awarded scholarships so far.

Additionally, India offers two scholarship schemes for Myanmar students through Myanmar’s Education Ministry. About 40 Myanmar nationals have joined these schemes for studies in various subjects such as art, dance, music, finance, Buddhism, Pali, Sanskrit and religious studies.

“Once we see there is more demand, the government of India will be very ready to increase the number of scholarships,” he said.

“In the long term, we will need to work on accreditation so that degrees in Myanmar are also recognised at Indian universities … Calcutta University has signed a memorandum of understanding with Dagon University. We would like to see many more such things.”

Expectations from the fair

Bangalore-based AIMS Institute participated in all three India education fairs in Myanmar. Last year, the institute welcomed two Myanmar students, boosting the total number to eight. AIMS’ regional admission director Sarabindu Pal wants to welcome more.

“This year, we expect six to eight Myanmar students as a result of our participation in this fair. We offer Myanmar students very good discounts for business studies and IT courses. They can get up to US$3,000 [Bt105,000] partial scholarships. They can visit our website and apply for the scholarships online. We expect more than 30 new students from Myanmar over the next three years,” he said.

He said that the BBA (Bachelor of Business Administration) course was the most popular at the AIMS Institute today. During the education fair, Myanmar students showed an interest in business studies as well as tourism and hospitality programmes.

Suresh Anand Mani, business development manager of SRM University, said the university’s debut participation in the fair not only aimed at finding new students but also at collaboration with Myanmar universities about students’ exchange programmes, curriculum exchange, faculty exchange and research work.

“The reason we came here is to share knowledge between SRM and Myanmar universities. We want Myanmar students to know more about SRM and what we are offering. Basically in the past, we had students from Myanmar who applied on their own. Every year, we |usually get two or three Myanmar students who apply online,” he said.

According to Mani, SRM has more than 2,500 international students in the campus, including eight from Myanmar. Four more have submitted applications. It aims to |concentrate on receiving more Southeast Asian students.

Mani said Myanmar nationals were more interested in technical education such as |engineering and technology, and courses in the medical and health sector. The university has partnered with Yangon Technological University for an exchange of knowledge and expertise.

Normally, an engineering course for undergraduate students costs about $9,000 per year, covering tuition fees and others. A partial scholarship would reduce the tuition fee by 25 to 35 per cent.

Harpreet Kang, dean of international affairs at PCTE Group of Institutes, saw demand for studies in fashion designing, hotel management, airlines and tourism, besides some enquiries about biotechnology.

Tuition fees cost about $5,000 a year, but special full scholarships are on offer for Myanmar students. The scholarship winners can also earn a 50 per cent discount on in-campus accommodation, food, Internet and other facilities, which cost about $1,000 a year.

Asia-Pacific to account for 40% of energy investments by 2040

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Asia-Pacific-to-account-for-40-of-energy-investmen-30284623.html

News Desk
Dawn
HOME AEC AEC NEWS MON, 25 APR, 2016 1:00 AM

ISLAMABAD – The Asia-Pacific region is expected to account for over 40 per cent of the $68 trillion of cumulative energy investments until 2040, according to a document prepared by the United Nations regional commission for Asia and the Pacific (UN-ESCAP).

The document prepared for the policy dialogue on energy for sustainable development in Asia and the Pacific opening in Bangkok on Monday, says with energy demand in Asia and the Pacific forecast to nearly double from 2010 to 2035, access to reliable and adequate energy services will remain a focus for the decades to come.

Of the $68 trillion, $22 trillion will be needed for investments in energy efficiency. It is expected that two thirds of projected investments will be in non-OECD countries and in Asia, and about half of this will be required in the power sector (i.e. generation, transmission and distribution) to fill much needed demand and access gaps.

The region’s energy imports have grown rapidly from 525 mega tonnes of oil equivalent (Mtoe) in 1980 to 2.3 billion Mtoe in 2013. Compared to 1980, the region’s energy import share of the global total has nearly doubled from 23 per cent to nearly 44 per cent in 2013. Compared to imports, overall exports have remained more or less stagnant at around one third of global energy exports since 1990.

The region is expected to remain dependent on oil in the medium term, as the mobility and transport of goods and people is critical for economic development. Currently, transport is currently heavily dependent upon oil and is the fastest growing source of global carbon emissions. With growing middle class in the region and rapid urbanization, overall oil demand for personal mobility and transportation of goods is expected to rise significantly.

Three future trends are likely to dominate the Sustainable Development Agenda for the Asia-Pacific region. First, the next few decades will see a tremendous rise in the urban population globally, but particularly in the region; and new cities and new buildings will have to be built to cope with rapid urbanization. Second, the world will witness a major rise in global middle class: from 1.8 billion in 2009 to 4.9 billion by 2030.

Asia will represent 66 per cent of the global middle class population and 59 per cent of global middle-class consumption, compared to 28 per cent and 23 per cent today. The emergence of a large middle class will have a significant impact on energy demand and on the goods and services that have embedded energy.

In order to effectively progress energy connectivity within Asia and the Pacific there is a need for a common understanding of the benefits by member States. This could lead to a shared vision for energy connectivity that could encompass a connected and fully energized Asia-Pacific region.

Regional integration will not solve all energy challenges, but smart region-wide energy connectivity can play a valuable role in improving energy supply and minimising the environmental impact. It is possible for the Asia-Pacific region to expand supplies, reduce overall cost of energy produced and consumed, lower environmental and social costs, and reduce energy insecurities if energy networks are connected, it says.

According to the ‘Regional Trends Report on Energy for Sustainable Development in Asia and the Pacific’, energy access has remained as the major challenge and the energy poverty is acute in the region impeding development process and economic growth.

In the region, there are 455 million populations live without access to electricity and 2.06 billion relying upon solid fuels for cooking and heating. Mostly the rural populations in the region are deprived of energy access due to unaffordability, low per capita consumption, lack of technological capacity and high capital investment required.

New initiatives are emerging in this region as major energy exporter the Russian Federation is turning to the Asian market and major energy importer China formulated the Belt and Road initiatives, both look into energy cooperation with other countries.

The new established Asian Infrastructure Investment Bank, the BRICS New Development Bank, the Silk Road Fund and Shanghai Cooperation Organisation will play an important role in regional investment and cooperation, including regional energy connectivity.

Vietnam ‘s rice exports surge in Q1

ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation

http://www.nationmultimedia.com/aec/Vietnam-s-rice-exports-surge-in-Q1-30284624.html

Viet Nam News
HOME AEC AEC NEWS MON, 25 APR, 2016 12:59 AM

Workers load rice packages for export at Sai Gon Port. /Viet Nam News

HO CHI MINH CITY – Vietnam exported 1.42 million tonnes of rice for a total free-on-board value of US$577.28 million in the first quarter, a year-on-year increase of 57.7 per cent in volume and 51.16 per cent in value, according to the Vietnam Food Association.

Many of last year’s contracts were executed this year, especially Government-to-Government contracts with Indonesia and the Philippines, and commercial contracts with China pushed up the exports, the VFA said.

Asian countries were the main buyers, buying 76.12 per cent of the exports, followed by the Americas with 10.94 per cent and Africa with 9.76 per cent.

Common white rice accounted for 29.31 per cent, up 135.44 per cent from the same period last year due to high demand from Indonesia and the Philippines.

Exports of high-value white rice and fragrant rice accounted for 21.96 per cent and 21.89 per cent respectively thanks to high demand from Cuba, Indonesia, Africa, and China.

Shipments of glutinous rice surged by 200.16 per cent due to an increase in demand from China. But broken rice exports were down by 64.76 per cent.

The association said the number of contracts to be executed in the next few months, excluding new contracts, remains high, with around 1.4 million tonnes to be shipped.

Export prices have increased significantly in recent months, especially since March.

Meanwhile, high demand from exporters and falling output in the Cuu Long (Mekong) Delta because of drought and saltwater intrusion have pushed up domestic prices of the grain.

As a result, Vietnam ’s export prices are higher than those of other Asian suppliers, causing the country to lose its advantage in the competitive global market.

The association quoted the US Department of Agriculture as saying world output in 2015-16 declined by 1.6 per cent to 471 million tonnes, a second straight year of decline.

El Nino was a major factor, causing smaller crops in many rice producing countries.

Global consumption will meanwhile rise by 0.3 per cent to 484.2 million tonnes, making it the third consecutive year when consumption will exceed production, leading to a depletion of stockpiles.

The USDA expects China’s rice imports this year to equal that of last year at around five million tonnes. In the first quarter China was the biggest buyer of Vietnamese rice.

The association is concerned that China may shift to buying rice from other regional countries due to rising prices in Vietnam .

The VFA expects exports to reach 3.01 million tonnes in the first half, a year-on-year increase of 12 per cent.