HCMC – Vietnam and the U.S. state of Iowa have signed five memoranda of understanding (MOU) in agriculture, worth a combined US$800 million over three years, significantly exceeding the previous average of US$44 million per year.
The agreements were reached during a working session between Vietnam’s Ministry of Agriculture and Environment and Iowa’s Department of Agriculture, as part of a visit led by Minister Do Duc Duy to the U.S. The delegation’s first stop was Iowa, according to the Vietnam News Agency (VNA).
The visit aims to strengthen agricultural trade cooperation between Vietnam and the U.S., particularly with Iowa, which is known for its corn and grain production. While Vietnam is pursuing a strategy of sustainable development, deep processing, and quality control, both sides see potential to build long-term and stable agricultural value chains.
At the meeting, the two parties reviewed the current state of agricultural cooperation, exchanged business needs, and discussed potential enterprise linkages. The talks focused on promoting high-quality exports of agricultural, forestry, and fishery products between Vietnam and Iowa.
The Vietnamese delegation also reaffirmed its strong commitment to the U.S. market, with plans to sign additional MOUs for agricultural imports worth more than US$2 billion.
Among the signed deals, Khai Anh Binh Thuan Company is set to import one million tons of soybean meal from AGP, valued at US$380-390 million, along with 900,000 tons of corn and wheat from United Grain worth around US$250 million.
Viet Nhat Company signed a contract with POET to purchase 100,000 tons of dried distillers grains and 100,000 tons of soybean meal, with a total value of US$60-70 million.
Public-private cooperation is also expanding, with a MOU signed between Vietnam’s Department of Livestock Production and Veterinary Medicine and the Iowa Pork Producers Association. The agreement focuses on fostering business connections, technical seminars, and trade promotion events.
Minister Duy expressed hope that this will mark the beginning of a deeper phase of collaboration between Vietnamese enterprises and partners in Iowa, contributing to the Comprehensive Strategic Partnership between Vietnam and the U.S.
