Vietnamese companies are set to deepen agricultural trade ties with the United States by signing memorandums of understanding to purchase $2 billion worth of US farm products, according to Vietnam’s Ministry of Agriculture.
The agreements are being formalized during an official visit to the United States by a delegation of 50 Vietnamese firms led by the Minister of Agriculture. This initiative is part of broader trade collaboration efforts between both countries aimed at enhancing import-export balance and opening new market opportunities.
Among the new partnerships are five memorandums focused on agricultural imports from Iowa, totaling $800 million over a three-year period. The products include corn, wheat, soybean meal, and dried distillers grains, which play a key role in Vietnam’s food processing and animal feed industries.
These developments reflect Vietnam’s commitment to supporting stronger bilateral trade relations. In 2024, Vietnam imported $3.4 billion in US agricultural goods while exporting $13.68 billion in its own produce to the American market. The upcoming deals will contribute to diversifying Vietnam’s supply chain while providing increased access to high-quality agricultural commodities.
Vietnam has also signaled interest in expanding trade in other sectors, including aviation and energy, while working toward greater enforcement of intellectual property rights. The collaborative momentum continues as both nations work toward a formalized trade agreement.
This growing partnership highlights the importance of resilient trade frameworks and balanced supply chains in supporting global food security and economic growth.
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