June 11, 2025

Vietnam inks deals to buy US$3 billion of US agri-products

Vietnam has signed multiple business deals to import agricultural products from the United States, with the total value estimated at US$3 billion.

These deals were signed as part of the 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 Vietnam to increase imports of US agricultural and timber products. It also targeted to seek access to new technologies to strengthen the competitiveness of Vietnam'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 Vietnam's agricultural development.

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

He pledged that the USABC and its member companies will continue to support the growth of Vietnam'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 US companies, to expand their investment and operation in Vietnam in a long-term and effective manner.

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

Trade and investment are key pillars of this relationship, and Vietnam 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 US goods exports to Vietnam reached US$13.1 billion, up 32.9 % (US$3.2 billion) from 2023, according the Office of the US Trade Representative.

-      Vietnam Investment Review