FarmKonekt's recent participation in the 1st Quarter P-EAGA Agribusiness Cluster Working Group Meeting highlights a significant step in the advancement and diversification of agriculture in the P-EAGA region. The meeting was a vibrant platform for discussing funding opportunities, aiming to support a broader range of agricultural commodities, including coconut, cattle, and rice. This approach indicates a strategic move towards diversifying agricultural focuses within the P-EAGA region.
A key aspect of the discussions was the role of the government in creating enabling policies for agricultural growth, and the expected contributions from the private sector, including organizations like FarmKonekt, in providing support and connectivity through partnerships. This emphasizes a collaborative framework essential for the development of agribusiness.
The meeting also recognized the importance of involving young farmers in agribusiness and explored value-adding activities to boost the competitiveness and sustainability of agricultural products. The engagement of younger generations and innovation in the industry marked a forward-thinking approach.
Significant attention was given to regional agreements and partnerships, like SL Agritech’s collaboration with Indonesian counterparts and the Gensan Tuna project’s agreements with Indonesia, highlighting strategic movements in fisheries and other sectors. Innovations in high-value crops like mango, which include advancements for longer shelf life, were also noted, showcasing a shift towards technological enhancements in agriculture.
International trade and cooperation were other focal points, with discussions on the Philippines' chairmanship in BIMP-EAGA in 2026 and China's involvement through the BIMP-EAGA China Cooperation Fund. These talks centered on agricultural trade and investment cooperation, indicating a growing international interest in the region’s agriculture. Additionally, the demand for healthy foods like durian in China presented new market opportunities, particularly noting the rising sector of durian farming due to its high demand.
The meeting also highlighted the BKCF 4th round funding opportunity, offering financial support ranging from $100k to $500k USD, to encourage projects that align with the funding criteria. This initiative marks a significant step in enabling the growth and diversification of agricultural projects in the region.
FarmKonekt's involvement in the P-EAGA Agribusiness Cluster Working Group Meeting signifies a pivotal moment in regional agricultural development, laying down a foundation for a more diversified, sustainable, and technologically advanced agricultural sector. The collaborative efforts of all stakeholders involved are set to foster significant growth and innovation in the P-EAGA agribusiness landscape.