Foreign Affairs Secretary Perfecto Yasay announced that the Philippines and Vietnam have agreed on a six-year strategic partnership that would include rice trade, agricultural information exchanges, construction, and oil and gas exploration among others.
Department of Trade and Industry Secretary Ramon Lopez said both leaders agreed "to level up the trade" that the two countries already have.
"At least we have an assurance that Vietnam will help us with the supply," Trade and Industry Secretary Ramon Lopez told the media.
According to Lopez, Duterte himself also asked his Vietnamese counterpart for cooperation "to consider importing products from the Philippines as we import rice from Vietnam."
Lopez said Duterte also invited investors from Vietnam, and assured that their investments are safe in the Philippines and contracts will be honored.
"The President actually thanked the President of Vietnam for really providing a good, you know, a good environment for the Filipino workers here in Vietnam. So nagpasalamat ang ating Presidente din doon," Lopez said. "And of course, ganon din 'yung gina-guarantee niya sa mga pupunta rin sa bansa natin."
For agriculture, Lopez said Vietnam vowed to continue exporting quality rice to the Philippines.
Vietnam, on the other hand, would benefit from the Philippines on the aspect of construction and oil and gas exploration.
"This is what the President also mentioned, food and food preparations, high-value processed agriculture products, furniture, metal fabrication… the President also talked about the beautiful, fine furniture that we have. So there's a lot of new potentials for the exportation to Vietnam," he added.
Yasay, meanwhile said both countries, insofar as maritime cooperation is concerned, have agreed to pursue bilateral negotiations "to see what kind of agreement we could pursue for the mutual interest of both countries."
Both Philippines and Vietnam have maritime territorial disputes with China.
"Incidentally, when we say maritime cooperation, it also includes among other things, in making sure that the maritime environment and health is put back there in the light of certain distractions that have been made. This is an interest not only of Vietnam and the Philippines, but an interest and concern of the entire international community," Yasay said.
Senator Alan Peter Cayetano, who is part of the Philippine delegation in Vietnam, said they could not reveal some confidential information in the ongoing negotiations of the two countries.
But he said President Duterte has expressed the need for solidarity among the ASEAN (Association of Southeast Asian Nations) countries.
"We think and we respect 'di ba, foreign powers, world powers? But isn't it better if we open doors and start talking," said Cayetano.
Cayetano said, Vietnam's president responded positively, quoting him as saying: "We should do this through the principles of ASEAN."