Socio-economic Aspect of GM Crops Highlighted in Symposium

Science and economics merged during The Economics of Biotech Crops: A Symposium to Promote Economic and Financial Literacy held on July 17, 2018 at the SEARCA Umali Auditorium, Los Baños, Laguna.

The half-day event was a joint collaboration of the Southeast Asian Regional Center for Graduate Study and Research in Agriculture through its Biotechnology Information Center (SEARCA BIC) in partnership with the International Service for the Acquisition of Agri-biotech Applications (ISAAA), International Rice Research Institute (IRRI), and the Philippine Economic Society (PES) toward the implementation of Republic Act No. 10922 (Economic and Financial Literacy Act of 2016) and in observance of Nutrition Month this July.

More than 60 participants composed of scientists and experts as well as representatives from the academe, national and international agencies/institutions, partners from the biotech and business sectors, and media practitioners were informed on topics centered on the socio-economic aspect of GM crops including the global status of biotech crops, IRRI’s research on biotec rice, the socio-economics of Bt Eggplant, and the social and economic impact of biofortificated through genetic modification.

Dr. Maja-Leah Ravago, PES President, underlined the significance of looking at the economic and financial prospects of biotech crops because ultimately, maximizing the profits of the farmers is most important. She also expressed PES’ support in ensuring that accurate information from the experts is communicated to the public. Meanwhile, Dr. Desiree Hautea, Project Leader of the Bt Eggplant Project, agreed and commented during the open forum that one of the things that will always make bottomline to anyone is economics. She added that this poses a challenge to the economics partners on how they can impact the communications discourse with science-based information.