VNA reported that on June 2 (local time), a working group of the Vietnamese Ministry of Agriculture and Environment led by Minister Do Duc Duy began a working trip to the US, with the first stop being the state of Iowa.
At the meeting, the Vietnamese delegation demonstrated a strong commitment when it expected to sign purchase contracts worth over 2 billion USD in the US market. With Iowa alone, the two sides have signed five memorandums of understanding (MOUs) worth about $800 million over three years.
Sharing at the meeting, Minister Do Duc Duy said that this working trip promotes cooperation in agricultural, forestry and fishery trade between Vietnam and the US, especially with the state of Iowa.
With a long tradition of farming, Iowa is known as the leading corn granary in the United States, producing about 50 million tons of corn per year. In addition, the state is also a producer of many other grains such as black barley, wheat, as well as fruits.
On the other hand, Vietnam has risen to become one of the world's leading agricultural exporters, actively contributing to ensuring global food security.
We are constantly expanding processing capacity, quality control and sustainable agricultural development. Therefore, the two sides can completely complement each other, jointly developing bilateral, stable and long-term value chains of agriculture, forestry and fishery" - Minister Do Duc Duy said.
Also at the meeting, the two sides discussed opening a substantial direction, promoting the export of high-quality agricultural, forestry and fishery products from the state of Iowa to the Vietnamese market and vice versa.
At the relevant seminar within the framework of the working session, Mr. Ngo Hong Phong - Director of the Department of Quality, Processing and Market Development (Ministry of Agriculture and Environment) - also presented an overview of the agricultural trade relationship between Vietnam and the state of Iowa.
According to the Ministry of Agriculture and Environment, Vietnam and the US have a clear structure of agricultural subsidies. Vietnam is strong in tropical agricultural products such as rice, coffee, pepper, vegetables and fruits; has a long coastline that is favorable for the development of aquatic products, especially shrimp and pangasius.
Meanwhile, the US is dominated by temperate agricultural products such as corn, wheat, soybeans, milk, meat, temperate fruits and seafood such as Alaska lobster and cod.
Mr. Phong said that thanks to participating in many free trade agreements such as EVFTA, UKVFTA, CPTPP and RCEP, Vietnam has had significant advantages in tariffs as well as access to international markets.
According to Mr. Phong, the difference in crops due to climate conditions helps supplement year-round supply for domestic and international markets. Thanks to that, consumers of the two countries have more options for tropical and temperate fruit products across the Pacific Ocean.
Thanks to that, agricultural trade between the two countries is mutually supportive, has little direct competition and contributes to the formation of a common supply chain between Vietnam and the US.
Vietnam is committed to accompanying US partners, especially the Iowa state-owned business community, to continuously expand fair, transparent and mutually beneficial trade relations.
