Notably, Khai Anh Binh Thuan Company will import 1 million tonnes of soybean meal worth an estimated US$380–390 million from Ag Processing Inc. It also reached a deal to purchase an additional 900,000 tonnes of corn and wheat from United Grain, valued at around US$250 million.

Meanwhile, Vietnam - Japan Nutrition Technology JSC signed a contract with the POET Group to import 100,000 tonnes of distillers dried grains with solubles and 100,000 tonnes of soybean meal, with a total value of US$60 - 70 million.

Public-private cooperation between the two countries was also strengthened through an MoU between the Department of Livestock Production and Animal Health under the Ministry of Agriculture and Environment of Vietnam and the Iowa Pork Producers Association. The two sides pledged to enhance trade relations and encourage partnerships between livestock producers in Vietnam and Iowa through technical workshops, promotional events, and trade missions.

The deals, to be implemented over three years, are part of Vietnam’s commitment to purchasing more US products in pursuit of balanced economic partnership between the two countries. Both sides are set to sign deals worth more than US$2 billion on this occasion.

In addition to the signed agreements, there are B2B exchanges, offering new opportunities to connect agricultural supply chains and promote US technology transfer to Vietnam, with a shared goal of green, smart, and sustainable agriculture.

At a working session in Iowa, a key agricultural state, on June 2, Minister of Agriculture and Environment Do Duc Duy emphasised that the Vietnamese business delegation’s visit aims to strengthen cooperation in agriculture, forestry, and fisheries trade, particularly with Iowa, a major US producer of corn, wheat, barley, and fruits.

He also said Vietnam is emerging as a global leader in agricultural exports, with competitive strengths in tropical crops like rice, coffee, pepper, and seafood, supported by an expanding processing industry and a commitment to sustainable agriculture.

“We are continuously expanding our processing capacity, enhancing quality control, and promoting sustainable agriculture. Therefore, the two sides can truly complement each other and jointly develop stable, long-term bilateral value chains in agriculture, forestry, and fisheries,” affirmed Duy.

Both sides reviewed the current state of agri-trade cooperation and shared information, needs, and opportunities for business cooperation, laying a solid foundation for promoting the export of high-quality agricultural, forestry, and fishery products from Iowa to Vietnam and vice versa.

At a related roundtable, Ngo Hong Phong, director general of the Department of Quality, Processing, and Market Development under the Ministry of Agriculture and Environment, outlined the complementary nature of agro-trade between Vietnam and Iowa.

While the US specialises in temperate crops and animal products, Vietnam offers tropical produce and seafood. Thanks to multiple free trade agreements, he said, Vietnam enjoys preferential tariffs and strong access to global markets.

Phong also highlighted the value of Vietnam’s skilled farming workforce, its opposite crop seasons from the US, and the mutually supportive nature of trade that minimises direct competition while creating a shared supply chain.

He suggested that US exporters closely follow Vietnam’s food safety regulations and capitalise on trade preferences granted under the growing Vietnam - US Comprehensive Strategic Partnership.

In conclusion, he reaffirmed Vietnam’s commitment to fair, transparent, and mutually beneficial trade, particularly with partners in Iowa, in the face of global challenges such as climate change, supply chain disruptions, and market volatility.

Iowa is the first stopover of the Vietnamese business delegation during the week-long trip to the US to sound out cooperation opportunities.

Vietnamese trade mission sounds out business opportunities in United States

VOV.VN - A delegation of nearly 50 representatives from Vietnamese agencies, businesses, and agricultural associations is travelling to the United States to seek trade promotion opportunities and boost imports of key US agricultural products from June 1 - 7.