The world's two largest rice exporting nations of Thailand and Vietnam, are seeking to strengthen mutual cooperation in the rice trade sector in order to maintain stabilize rice prices in both countries.

According to the Rice Exporters Association of Thailand and the Vietnam Food Association, the two countries are likely to collaborate in marketing strategies and to increase rice yields, and avoid price-cutting to ensure fair competition and make rice prices more predictable.

Thailand and Vietnam account for around 50% of the world rice trade. They exported a combined 14 million MT of rice last year.