Vietnam and the United States to Enhance Agricultural Trade

Oct 2024

The United States and Vietnam are working to enhance agricultural trade, driven by rising demand for high-quality products in both nations.

In September 2024, the US Department of Agriculture (USDA) led a significant trade delegation to Vietnam, marking the largest group ever sent in the history of their bilateral relationship and celebrating one year of the US-Vietnam Comprehensive Strategic Partnership.

The US delegates emphasized Vietnam’s rowing importance as a market for US agricultural products, now ranking as the 10th largest export destination for US goods in this sector. The US also stands as Vietnam’s largest agricultural export market.

The delegation, which included major players like Willamar Grain and Cargill, held 500 meetings with Vietnamese companies to explore potential collaborations. US agricultural exports to Vietnam were valued at nearly USD 3.5 billion in 2023. Vietnam’s food processing, retail, and restaurant sectors have a particularly strong demand for US tree nuts, fresh fruit, and a variety of meats such as poultry, beef, and pork.

Both countries see significant opportunities to complement each other’s markets. The US is exploring how to import fresh Vietnamese fruits like passion fruit, while Vietnam is eyeing more US livestock, poultry, and cotton products. Agricultural cooperation extends beyond trade, with initiatives such as financial support for Vietnamese small enterprises and collaborations on sustainable fertilizer use.

Trade between the two countries is expected to keep growing, bolstered by mutual market demand and strong governmental support. The US remains Vietnam’s largest market for agro-fishery products, with exports reaching USD 8.58 billion in the first eight months of 2023.

(Source: Vietnam Investment Review)

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