Hanoi (VNA) – Minister ofIndustry and Trade Tran Tuan Anh and Bangladeshi Minister of Food Advocate MdQuamrul Islam have signed a document extending the two countries’ memorandum ofunderstanding (MoU) on rice trade that will allow Vietnam to sell up to 1million tonnes of rice to Bangladesh each year.

The MoU, inked on May 23 in Hanoiduring the Bangladeshi official’s visit, will last five years to 2022. Theprovision of rice will depend on Bangladesh’s yearly demand.

It took Vietnam and Bangladeshonly two weeks to discuss and reach the deal.

Right after sealing the deal, theBangladeshi side wanted to buy 250,000-300,000 tonnes of 5-percent broken riceimmediately and a total of 500,000 tonnes by the end of 2017.

Speaking at the signing ceremony,Minister Anh spoke highly of Minister Quamrul Islam’s visit, expressing hishope that it will help connect businesses and strengthen bilateral partnershipand friendship between the two countries.

The MoU was signed for the firsttime on April 18, 2011 in Hanoi and expired on December 31, 2013. On January 2,2014, the two sides re-signed the deal that was valid until December 31, 2016.

In 2011 and 2012, Vietnam shippedover 300,000 tonnes of rice to Bangladesh. As Bangladesh was then able to produceenough rice, it ceased the import of Vietnamese rice.

However, in two recent years,Bangladesh faced consecutive natural disasters that have affected its crops andresulted in a shortage of rice for domestic consumption.

On the day, Minister Tran TuanAnh and Minister Quamrul Islam also discussed measures to enhance theircoordination in the future to improve bilateral economic, trade and industrialcooperation, especially in the trading of rice.-VNA