Research teams from science agencies and universities in the Philippines and the United States have agreed on joint undertakings to improve agricultural production in the country. 

The RP-US Agricultural Research and Development Endowment Fund will provide the financial grants to assist with the cost of bilateral cooperation between research teams from both countries. Funds for the endowment will be sourced from 10% of the sales proceeds of commodities covered by the United States Public Law 480.

Agriculture Secretary Luis Lorenzo, Jr. emphasized the need to undertake agricultural research and development as a vital component in the country's drive towards agricultural modernization. This should be given utmost attention it has long deserved, Mr. Lorenzo said.

The Bureau of Agricultural Research, the agency tasked with research and development studies, has not been given adequate financial support in the past. Its current budget has been pushed to the minimum, just enough to maintain and operate current programs and projects.