Vietnamese Agri Trade Mission to Iowa
At the meeting, Minister Do Duc Duy expressed his interests to lead a delegation consisting of Vietnamese government agencies, associations and agribusinesses to visit Iowa state, known as the 'Heart of Agriculture' in the United States. With a long history of farming system, Iowa is the leading corn production in the United States, with total output of 50 million tons of corn per year. Besides, the state is also home to many other agricultural commodities such as soybean, wheat, pork and beef.
'Vietnam has become one of the world's leading agricultural exporters, contributing positively to global food security. We are constantly expanding our processing capacity, improving quality for sustainable agricultural development in Vietnam. Therefore, Vietnam and the United States can completely complement each other, jointly develop bilateral, stable and long-term agricultural supply chains,' Minister Do Duc Duy affirmed.
At the meeting, the two sides jointly recognized and assessed the current status of agricultural trade cooperation between Vietnam and Iowa, and shared information, needs and potentials for business cooperation between the two sides. The discussion opened a substantive direction, promoting the export of high-quality agricultural products from Iowa to the Vietnamese market and vice versa.
Notably, the delegation of 50 Vietnamese agribusinesses accompanying Minister Do Duc Duy to the United States this time is expected to sign MoUs to purchase over 2 billion USD of agrifood products from the United States. Particularly for the state of Iowa, businesses and associations of the two sides have signed 5 MOUs with a total value of about 800 million USD over 3 years. Those are significant deals compared to 44 million USD of agricultural exports from Iowa to Vietnam in 2024.
Specifically, Vietnam's Khai Anh Binh Thuan Company signed an MoU to import one million tons of soybean meal, valued at approximately $380–390 million, from its partner Ag Processing Inc (AGP). The company also committed to purchasing 900,000 tons of corn and wheat from United Grain, valued at around $250 million.
Viet Nhat Nutrition Technology Company signed a contract with POET Group to import 100,000 tons of DDGS and 100,000 tons of soybean meal, with a total value estimated at 60–70 million USD.
Public–private partnership between the two countries also expanded through an MoU between the Department of Livestock Production and Animal Health (under Vietnam's Ministry of Agriculture and Environment) and the Iowa Pork Producers Association (IPPA). Under this agreement, both sides committed to strengthening trade ties and promoting collaboration between Vietnamese and Iowa pork industry by organizing technical seminars, market promotion and trade missions.
In addition, the meeting provided opportunities for many other Vietnamese and US businesses to connect, opening new avenues to enhance trade relations and strengthen the Vietnam–US agricultural supply chain linkages. These connections are expected to accelerate the transfer of advanced U.S. technologies to Vietnamese agribusinesses, paving the way toward green, smart, and sustainable agricultural development in Vietnam.
Minister Do Duc Duy expressed his confidence that today's event marks the beginning of a new phase of deeper and more effective cooperation between the Vietnamese business community and the state of Iowa. He emphasized that the outcome reflects the shared goodwill of both sides to advance the comprehensive strategic partnership between Vietnam and the United States.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
an hour ago
- Barnama
CT Group Propels Vietnam Into Global Tech Arena With UAV Export Deal
BUSINESS KUALA LUMPUR, Aug 15 (Bernama) -- Vietnam officially entered the global tech big leagues as CT Group signed a landmark deal to export 5,000 unmanned cargo aircraft to a major South Korean drone firm, marking the nation's first large-scale unmanned aerial vehicle (UAV) export. The signing of the memorandum of understanding (MoU) took place at the Vietnam-Korea Economic Forum on Aug 12 in Seoul, witnessed by Vietnam's General Secretary To Lam and South Korean Prime Minister Kim Min-seok. Developed by CT UAV, a member of CT Group, the heavy-duty transport UAV models, ranging from 60 kilogrammes (kg) to 300 kg, boast a localisation rate of up to 85 per cent and exclusive Vietnamese technology, earning high recognition from several nations, including South Korea. During the event, CT Group also managed to secure an order to export 100 million ATP semiconductor chips to a South Korean partner, strengthening its technical foundation to support Vietnam's comprehensive digital transformation. CT Group in a statement said mastering all core technologies in the cutting-edge UAV sector further affirms the strategic role of the company in shaping the nation's technological future. Being adopted in various sectors, UAVs have become one of the most critical technologies, with widespread applications spanning diverse industrial sectors to urban development and consumer markets, from specialised military and security fields to the defence of whole nations or vast regions. With the rapid technological advancements in South Korea, securing an export order for unmanned cargo aircraft for the selective market stands as vivid proof of a rising Vietnam in the new era while also opening opportunities for CT Group to expand UAV exports to a wide range of countries worldwide. The company's self-sufficiency in designing semiconductor chips for UAVs provides CT UAV with a distinctive competitive advantage, in addition to demonstrating Vietnam's readiness to compete in the global technology arena at a higher level. -- BERNAMA
The Sun
3 hours ago
- The Sun
Ringgit weakens against US dollar ahead of Q2 GDP data
KUALA LUMPUR: The ringgit opened lower against the US dollar amid cautious investor sentiment ahead of the second quarter 2025 gross domestic product (GDP) announcement later today and a stronger US dollar. At 8 am, the local note depreciated to 4.2100/2210 from Thursday's close of 4.2090/2145. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US dollar received a boost last night as the inflation rate at the producer's level was rising at a fast clip. 'Apart from that, those who applied for unemployment benefits fell last week, which gave the impression that the labour market was still healthy,' he told Bernama. He noted that the July US Producer Price Index (PPI) rose 3.3 per cent year-on-year, beating the 2.5 per cent forecast, while core PPI climbed to 3.7 per cent versus 2.9 per cent, and the US Initial Jobless Claims came in slightly lower at 224,000 against 225,000 estimates. 'Following this, the US Dollar Index (DXY) rose 0.42 per cent to 98.254 points as traders pared their bets on an interest rate cut by the US Federal Reserve (Fed) in the next Federal Open Market Committee meeting,' he added. On the local front, Mohd Afzanizam said the ringgit is expected to range between 4.21 and 4.23 against the US dollar today, as the temptation to lock in profits amid uncertainties over the US Fed decision was quite overwhelming. 'The USD-MYR was quite volatile yesterday. It reached RM4.1858 during the morning session but weakened later to RM4.2118. 'It appears that RM4.20 is the psychological level and the USD-MYR did pierce such a level momentarily,' he added. At the opening today, the ringgit ended higher against major currencies. It gained against the euro to 4.9047/9175 from 4.9170/9234 on Thursday's close, rose versus the Japanese yen to 2.8502/8578 from 2.8703/8742 and improved vis-a-vis the British pound to 5.6953/7102 from 5.7146/7220 yesterday. The ringgit traded mixed against regional peers. It strengthened versus the Singapore dollar to 3.2775/2866 from 3.2849/2895 at yesterday's close and increased versus the Thai baht to 12.9646/13.0069 from 13.0004/0238. However, the local note inched down against the Indonesian rupiah to 261.2/262.0 from 261.1/261.6 and was almost flat versus the Philippine peso at 7.39/7.42 from 7.39/7.41. - Bernama
The Star
3 hours ago
- The Star
Sweet smell of success in China export strategy
Better quality: A vendor selling durian at a fruit store. Vietnam's durian exports have seen a significant increase since May, with fresh fruit exports jumping tenfold from the first four months of the year. — AP HO CHI MINH CITY: Building a map for durian-growing regions suffering cadmium contamination is a key solution for ensuring food safety and meeting the requirements of foreign markets to sustain exports, says director of the plant production and protection department Huynh Tan Dat. Vietnam's durian exports had seen a significant increase since May, with fresh fruit exports jumping tenfold from the first four months of the year. Since May exports of fresh durian have topped 207,000 tonnes and that of frozen durian, 16,000 tonnes. Cadmium is a heavy metal that can persist for a long time in soil. Recently some batches of Vietnamese durian exports were found by China to have cadmium residues, leading to a disruption in trade and causing losses for farmers and businesses. 'The creation of the cadmium contamination map is not only for strictly managing quality from the source but also helps the durian industry meet new market standards and minimise the risk of technical warnings,' Dat said. It will help the country maintain its position not only in the Chinese market but also expand to other major markets like the United States, the European Union, Japan, and South Korea, according to him. The map will be based on samples of soil, irrigation water and fertilisers from major cultivation areas that are analysed in laboratories to identify contaminated regions. The result will be digitised and integrated into the cultivation area management system, which will help farmers and businesses prevent risks. Thailand, a leading durian-exporting country, did this in its key durian-growing provinces, and now only allows exports of fruits that meet safety standards. The plant production and protection department will first survey key durian-growing regions, according to Dat. The focus will be on provinces in the Mekong Delta. Once completed, the map will be expanded and regularly updated. Soil remediation will also be undertaken to reduce the heavy metal content in affected areas by using organic fertilisers, supplementing with lime to increase soil acidity and applying biological products to limit plants' absorption of cadmium. The Agriculture and Environment Ministry is also focusing on other measures to promote durian exports, including establishing new food safety and cultivation processes and a circular regulating the issuance and management of growing area codes and packaging facilities. It requires local authorities to monitor chemical use and quality checks at packing facilities and encourage farms to proactively test for cadmium. Export businesses must also test for cadmium and auramine O. It has unveiled plans for regular monitoring from the production to packaging stages, intensifying checks to detect and remove fertilisers with heavy metal residues and penalising the use of unauthorised post-harvest chemicals to minimise violations. It requires laboratories approved by the General Administration of Customs of China to expand testing of export goods for excessive cadmium levels. The Chinese agency has approved 19 laboratories for testing for cadmium and 11 for auramine O. The ministry has provided training and resources, including handbooks and videos, to help local officials and farmers meet VietGAP, GlobalGAP and Chinese quality standards. — Viet Nam News/ANN
