The MoU, signed at the Vietnam - Ohio agricultural trade forum on June 4, focuses on importing animal feed ingredients from the US state. In addition, many Vietnamese firms also established connections with their Ohio counterparts to promote imports of other products such as timber, fruits, and meat.

Around 100 businesses from Vietnam and Ohio attending the gathering agreed that there remains significant potential to expand cooperation in the agricultural sector, particularly in agricultural trade.

Minister of Agriculture and Environment Do Duc Duy, who is currently leading a Vietnamese business delegation to explore agricultural cooperation opportunities with the United States, emphasised that the key goal of the June 4 forum, as well as the ongoing mission in the economic relationship between the two countries, is to move toward a more balanced trade relations.

In that spirit, the Vietnamese side shared information with US firms and distributors, particularly in Ohio, who are interested in building lasting partnerships, with a view to boosting exports of Ohio’s key agricultural products such as corn, soybeans, animal feed ingredients, and timber to the Vietnamese market.

The MoU was well received by US agricultural groups and farmer associations, who welcomed the strengthening ties between Vietnamese firms and Ohio’s agricultural sector.

Patty Mann, head of the Ohio Corn & Wheat, stated that the agreement is a big win for Ohio corn farmers, and that Vietnam continues to be a reliable and growing export market for Ohio farmers.

Meanwhile, Ryan LeGrand, CEO of the US Grains Council (USGC), remarked that the signed deals are the result of years of relationship-building and strategic cooperation between the two countries.

Vietnam is an increasingly important market, and these agreements reflect the strength of a solid and growing partnership between the two sides, he said at the forum.  

Experts said the signing of these deals is of highly significant for Ohio’s agricultural economy, especially as local producers face overlapping challenges such as rising production costs, falling commodity prices, and the urgent need to access new markets for key products.

Businesses and associations from both sides expressed their hope that the governments of Vietnam and the United States would continue to create favourable conditions to promote bilateral trade and strengthen complementary agricultural supply chains. The shared goal is to deliver practical benefits for millions of farmers and consumers in both countries while contributing to global food security efforts.

Earlier on the same day, Minister Do Duc Duy has a separate meeting with Brian Baldridge, director of the Ohio Department of Agriculture.

Baldridge highlighted the complementary nature of the agricultural trade relationship between Vietnam and the US, especially between Vietnam and Ohio. He noted Ohio’s recognition of Vietnam’s potential and the strong opportunities for expanding bilateral trade.

Ohio is proud to cooperate with Vietnamese agricultural partners to create new opportunities for local farmers, agribusinesses, and rural communities, he said.

Meanwhile, Duy stressed that avoiding retaliatory tariffs of up to 46% would benefit not only Vietnamese producers and farmers but also create jobs throughout the US supply chain.

When both sides prioritise shared interests, particularly those of farmers and consumers, this cooperation will be sustainable and yield long-term benefits, he noted.

According to the Minister, Vietnam exports many tropical products, including coffee, cashew nuts, pepper, fruit, and furniture. In contrast, the US and Ohio in particular supply temperate products such as soybeans, beef, corn, raw timber, and dairy products – the areas where Vietnam lacks large-scale production capacity.

This complementary trade relationship presents ideal opportunities for cooperation, bringing real benefits to both economies and consumers, while supporting product diversification, quality assurance, and transparency in the agricultural and timber supply chains, he said.

Both host and guest agreed to recommend to their governments the adoption of policies that avoid tariffs, which could disrupt supply chains.

The Vietnamese delegation will travel to Washington D.C., to continue discussions on trade and tariff issues with US authorities.

Vietnam and Iowa ink agricultural deals worth US$800 million

VOV.VN - Businesses of Vietnam and the state of Iowa signed five Memoranda of Understanding on the trading in agricultural products valued at approximately US$800 million during a Vietnamese business delegation’s ongoing trip to the United States.