Vietnamese businesses sign US$3 billion deals to import U.S. agricultural products

These deals were signed as part of a working visit by a delegation of the Vietnamese Ministry of Agriculture and Environment to the States of Iowa, Ohio, Maryland, and Washington D.C., from June 2-6.

The delegation, led by Minister of Agriculture and Environment Do Duc Duy, included representatives from nearly 50 Vietnamese agencies, agricultural businesses and associations.

The visit aimed to promote the two-way trade and open up new opportunities for Viet Nam to increase imports of U.S. agricultural and timber products. It also targeted to sought access to new technologies to strengthen the competitiveness of Viet Nam's agricultural value chain.

At a roundtable between the delegation and the US-ASEAN Business Council (USABC) on June 6, USABC President and CEO Ted Osius expressed strong support for Viet Nam's agricultural development.

Rapid changes in U.S. tariff policies have created a challenging trade environment, he said, expressing his appreciation that Viet Nam is considering increasing imports of U.S. agricultural products as a way to help narrow the trade deficit with the U.S.

He pledged that the USABC and its member companies will continue to support the growth of Viet Nam's food and agriculture sector.

In response, Minister Do affirmed the Vietnamese Government's strong commitment to continuing institutional reforms, improving administrative efficiency, upgrading infrastructure, and creating the most favorable conditions for foreign businesses, including U.S. companies, to expand their investment and operation in Viet Nam in a long-term and effective manner.

Through forums and meetings, the delegation has clearly demonstrated to U.S. government officials, state authorities, the business community, and the American public that Viet Nam places great importance on its Comprehensive Strategic Partnership with the U.S.

Trade and investment are key pillars of this relationship, and Viet Nam remains committed to further strengthening the partnership, aiming to elevate it to a new level in the current period and in the years ahead, he said.

In 2024, the U.S. goods exports to Viet Nam reached US$13.1 billion, up 32.9 percent (US$3.2 billion) from 2023, according the the Office of the U.S. Trade Representative./.