Latest news with #IowaDepartmentofAgriculture
The Sun
3 days ago
- Business
- The Sun
Vietnam Seeks $3 Billion Deal for U.S. Agricultural Commodities in Reciprocal Trade Agreement
WASHINGTON D.C, US - Media OutReach Newswire - 7 June 2025 - Vietnam's Minister of Agriculture and Environment Do Duc Duy led a delegation of nearly 50 agencies, agribusinesses, and associations to the United States from June 2–6, 2025, to promote trade and increase imports of agricultural and timber products. The delegation held business dialogues in Iowa, Ohio, Maryland and Washington, D.C. The visit aimed to boost two-way trade and open new opportunities for Vietnam to import more U.S. agrifood and timber, contributing to a more balanced trade relationship. Beyond trade, the delegation also sought access to new technologies to enhance the competitiveness of Vietnam's agricultural value chains. Minister Duy noted that while both countries have strong agricultural sectors, their strengths are complementary rather than competitive. 'With strong support from both governments, agriculture in Vietnam and the U.S. is becoming more interconnected. We now share parts of the same supply chains, which helps increase our competitiveness and benefits producers and consumers in both countries,' the Minister stated. 'Vietnamese agribusinesses are working closely with the government to increase purchases of US agrifood and timber products. This effort supports trade balance and strengthens the supply chain between our two countries, hence contributing to global food security'. He emphasized that this initiative also reflects Vietnam's commitment to deepening trust and advancing the Comprehensive Strategic Partnership as the two countries celebrate 30 years of diplomatic relations. During the trip, Vietnamese businesses signed 20 MoUs, worth a total of $3 billion to buy U.S. agricultural commodities. These agreements highlight the strong commitment and goodwill of Vietnam's business community and government to promote balanced trade with the U.S., and to encourage the Trump Administration to reconsider high reciprocal tariffs on Vietnamese goods. The visit was warmly welcomed and highly valued by U.S. partners. Iowa Governor Kim Reynolds immediately shared her appreciation on X following her meeting with Minister Do Duc Duy: 'Excited to welcome Vietnam's Minister of Agriculture and Environment, Do Duc Duy, and the whole Vietnamese delegation to Iowa and celebrate the signing of MOUs and purchase agreements for Iowa commodities. The agreements today will help our farmers and strengthen the agricultural supply chain between Vietnam and Iowa'. Following the Governor, Mike Naig, Secretary of Iowa Department of Agriculture, put on X: 'Yesterday, I met with Vietnam's ag minister and a major trade delegation working to strengthen ties with U.S. ag producers. Of the $2B in new MOUs signed, $800M is tied to Iowa'. Brian Baldridge, Ohio Secretary of Agriculture, emphasized during his meeting with Minister Duy that Vietnam and the US, especially Vietnam and Ohio, have complementary strengths, particularly in agricultural trade. Ohio sees strong potentials in Vietnam and recognizes the opportunities to expand bilateral trade. He noted that stakeholders from both sides should explore new ways for farmers, agribusinesses, and associations to collaborate and build strong, integrated supply chains. To support this, both governments should work to remove barriers to agricultural trade. Following the signing of MoUs with Vietnamese partners to purchase more than $600 million worth of animal feed from Ohio, Patty Mann, Chair of the Ohio Corn Checkoff, stated: 'These agreements represent a major win for Ohio corn farmers. Vietnam continues to be a growing and reliable export market, and partnerships like this help ensure we can keep delivering high-quality, Ohio-grown products to the world'. This was elaborated further by Wendy Osborn, Director of Market Development, Ohio Corn and Wheat: 'The MOUs signed today represent potential commitments of significant volumes of agricultural commodities and strategic partnerships that will support Vietnam's growing agricultural sector while providing sustainable markets for Ohio's farm families. These agreements build upon the strong foundation established through years of relationship-building. May these agreements serve as a foundation for many years of continued collaboration and mutual prosperity'. During a roundtable with the US-ASEAN Business Council (USABC) in Washington D.C, Ted Osius, President and CEO of USABC, expressed strong support for Vietnam's agricultural development: 'Rapid changes in U.S. tariff policies have created a challenging trade environment. We're encouraged that Vietnam is considering increasing imports of agricultural goods to help reduce its trade deficit with the U.S. USABC and its member companies remain committed to supporting the growth of Vietnam's food and agriculture sector'. In response to the USABC President, Minister Duy reaffirmed the Vietnam government's strong commitment to continuing institutional reforms, improving administrative efficiency, upgrading infrastructure, and creating the most favorable environment for international businesses, including U.S. enterprises, to expand trade and investment with Vietnam in a long-term and effective manner. During the meeting with Minister Duy, the Chairs of the Agriculture Committees of both the U.S. Senate and House of Representatives expressed enthusiasm and optimism about the remarkable outcomes of the Vietnamese delegation's visit to Iowa, Ohio, and Washington, D.C. Senator John Boozman was particularly impressed by Vietnam's robust economic growth and the strong potential for long-term cooperation between the two countries. He highlighted Vietnam's role as a dynamic and reliable economic partner in the Asia-Pacific region. The Senator expressed support for efforts to achieve a fair tariff agreement and pledged to fully convey Vietnam's recommendations to relevant US authorities. Representative Glenn Thompson showed special interest in the high-value deals for US agricultural commodities secured during the Minister's visit. He expressed confidence in the prospects for deeper cooperation between the two agricultural sectors and emphasized the need for the US government to promptly address concerns over the high reciprocal tariffs that may be applied to Vietnam exports. He welcomed Vietnam's decision to commercialize biotechnology-based agricultural products imported from the US, calling it a clear signal of Vietnam's determination to modernize its agriculture and integrate more closely with the US supply chains. Businesses and associations from both countries expressed hope that the Vietnamese and US governments would continue to support bilateral trade and strengthen links across their complementary agricultural supply chains. Their shared goal is to bring tangible benefits to millions of farmers, consumers, and businesses in both countries. As such, businesses on both sides are urging the removal of the reciprocal tariffs imposed by the Trump Administration on Vietnam. The 46% tariff has been reported to harm not only Vietnamese exporters but also U.S. businesses and consumers. Since agrifood is a staple commodity, higher price would place a considerable burden on average-income American households. Moreover, such measures could disrupt the supply chains that both governments and the private sector have worked hard to establish in recent years. Businesses wish for a trade agreement between the U.S. and Vietnam soonly concluded, thereby lowering tariffs on agricultural commodities, reinforcing shared supply chains and contributing to the prosperity of both countries under the Comprehensive Strategic Partnership. Hashtag: #MAE The issuer is solely responsible for the content of this announcement.
The Sun
3 days ago
- Business
- The Sun
$3 Billion to Buy U.S. Agricultural Commodities: Vietnam Seeks a Good Deal of Reciprocal Trade Agreement with the U.S.
WASHINGTON D.C, US - Media OutReach Newswire - 7 June 2025 - Vietnam's Minister of Agriculture and Environment Do Duc Duy led a delegation of nearly 50 agencies, agribusinesses, and associations to the United States from June 2–6, 2025, to promote trade and increase imports of agricultural and timber products. The delegation held business dialogues in Iowa, Ohio, Maryland and Washington, D.C. The visit aimed to boost two-way trade and open new opportunities for Vietnam to import more U.S. agrifood and timber, contributing to a more balanced trade relationship. Beyond trade, the delegation also sought access to new technologies to enhance the competitiveness of Vietnam's agricultural value chains. Minister Duy noted that while both countries have strong agricultural sectors, their strengths are complementary rather than competitive. 'With strong support from both governments, agriculture in Vietnam and the U.S. is becoming more interconnected. We now share parts of the same supply chains, which helps increase our competitiveness and benefits producers and consumers in both countries,' the Minister stated. 'Vietnamese agribusinesses are working closely with the government to increase purchases of US agrifood and timber products. This effort supports trade balance and strengthens the supply chain between our two countries, hence contributing to global food security'. He emphasized that this initiative also reflects Vietnam's commitment to deepening trust and advancing the Comprehensive Strategic Partnership as the two countries celebrate 30 years of diplomatic relations. During the trip, Vietnamese businesses signed 20 MoUs, worth a total of $3 billion to buy U.S. agricultural commodities. These agreements highlight the strong commitment and goodwill of Vietnam's business community and government to promote balanced trade with the U.S., and to encourage the Trump Administration to reconsider high reciprocal tariffs on Vietnamese goods. The visit was warmly welcomed and highly valued by U.S. partners. Iowa Governor Kim Reynolds immediately shared her appreciation on X following her meeting with Minister Do Duc Duy: 'Excited to welcome Vietnam's Minister of Agriculture and Environment, Do Duc Duy, and the whole Vietnamese delegation to Iowa and celebrate the signing of MOUs and purchase agreements for Iowa commodities. The agreements today will help our farmers and strengthen the agricultural supply chain between Vietnam and Iowa'. Following the Governor, Mike Naig, Secretary of Iowa Department of Agriculture, put on X: 'Yesterday, I met with Vietnam's ag minister and a major trade delegation working to strengthen ties with U.S. ag producers. Of the $2B in new MOUs signed, $800M is tied to Iowa'. Brian Baldridge, Ohio Secretary of Agriculture, emphasized during his meeting with Minister Duy that Vietnam and the US, especially Vietnam and Ohio, have complementary strengths, particularly in agricultural trade. Ohio sees strong potentials in Vietnam and recognizes the opportunities to expand bilateral trade. He noted that stakeholders from both sides should explore new ways for farmers, agribusinesses, and associations to collaborate and build strong, integrated supply chains. To support this, both governments should work to remove barriers to agricultural trade. Following the signing of MoUs with Vietnamese partners to purchase more than $600 million worth of animal feed from Ohio, Patty Mann, Chair of the Ohio Corn Checkoff, stated: 'These agreements represent a major win for Ohio corn farmers. Vietnam continues to be a growing and reliable export market, and partnerships like this help ensure we can keep delivering high-quality, Ohio-grown products to the world'. This was elaborated further by Wendy Osborn, Director of Market Development, Ohio Corn and Wheat: 'The MOUs signed today represent potential commitments of significant volumes of agricultural commodities and strategic partnerships that will support Vietnam's growing agricultural sector while providing sustainable markets for Ohio's farm families. These agreements build upon the strong foundation established through years of relationship-building. May these agreements serve as a foundation for many years of continued collaboration and mutual prosperity'. During a roundtable with the US-ASEAN Business Council (USABC) in Washington D.C, Ted Osius, President and CEO of USABC, expressed strong support for Vietnam's agricultural development: 'Rapid changes in U.S. tariff policies have created a challenging trade environment. We're encouraged that Vietnam is considering increasing imports of agricultural goods to help reduce its trade deficit with the U.S. USABC and its member companies remain committed to supporting the growth of Vietnam's food and agriculture sector'. In response to the USABC President, Minister Duy reaffirmed the Vietnam government's strong commitment to continuing institutional reforms, improving administrative efficiency, upgrading infrastructure, and creating the most favorable environment for international businesses, including U.S. enterprises, to expand trade and investment with Vietnam in a long-term and effective manner. During the meeting with Minister Duy, the Chairs of the Agriculture Committees of both the U.S. Senate and House of Representatives expressed enthusiasm and optimism about the remarkable outcomes of the Vietnamese delegation's visit to Iowa, Ohio, and Washington, D.C. Senator John Boozman was particularly impressed by Vietnam's robust economic growth and the strong potential for long-term cooperation between the two countries. He highlighted Vietnam's role as a dynamic and reliable economic partner in the Asia-Pacific region. The Senator expressed support for efforts to achieve a fair tariff agreement and pledged to fully convey Vietnam's recommendations to relevant US authorities. Representative Glenn Thompson showed special interest in the high-value deals for US agricultural commodities secured during the Minister's visit. He expressed confidence in the prospects for deeper cooperation between the two agricultural sectors and emphasized the need for the US government to promptly address concerns over the high reciprocal tariffs that may be applied to Vietnam exports. He welcomed Vietnam's decision to commercialize biotechnology-based agricultural products imported from the US, calling it a clear signal of Vietnam's determination to modernize its agriculture and integrate more closely with the US supply chains. Businesses and associations from both countries expressed hope that the Vietnamese and US governments would continue to support bilateral trade and strengthen links across their complementary agricultural supply chains. Their shared goal is to bring tangible benefits to millions of farmers, consumers, and businesses in both countries. As such, businesses on both sides are urging the removal of the reciprocal tariffs imposed by the Trump Administration on Vietnam. The 46% tariff has been reported to harm not only Vietnamese exporters but also U.S. businesses and consumers. Since agrifood is a staple commodity, higher price would place a considerable burden on average-income American households. Moreover, such measures could disrupt the supply chains that both governments and the private sector have worked hard to establish in recent years. Businesses wish for a trade agreement between the U.S. and Vietnam soonly concluded, thereby lowering tariffs on agricultural commodities, reinforcing shared supply chains and contributing to the prosperity of both countries under the Comprehensive Strategic Partnership.
Arabian Post
4 days ago
- Business
- Arabian Post
$3 Billion to Buy U.S. Agricultural Commodities: Vietnam Seeks a Good Deal of Reciprocal Trade Agreement with the U.S.
MoU signing to purchase US agricultural commodities. WASHINGTON D.C, US – Media OutReach Newswire – 7 June 2025 – Vietnam's Minister of Agriculture and Environment Do Duc Duy led a delegation of nearly 50 agencies, agribusinesses, and associations to the United States from June 2–6, 2025, to promote trade and increase imports of agricultural and timber products. The delegation held business dialogues in Iowa, Ohio, Maryland and Washington, D.C. The visit aimed to boost two-way trade and open new opportunities for Vietnam to import more U.S. agrifood and timber, contributing to a more balanced trade relationship. Beyond trade, the delegation also sought access to new technologies to enhance the competitiveness of Vietnam's agricultural value chains. Minister Duy noted that while both countries have strong agricultural sectors, their strengths are complementary rather than competitive. 'With strong support from both governments, agriculture in Vietnam and the U.S. is becoming more interconnected. We now share parts of the same supply chains, which helps increase our competitiveness and benefits producers and consumers in both countries,' the Minister stated. 'Vietnamese agribusinesses are working closely with the government to increase purchases of US agrifood and timber products. This effort supports trade balance and strengthens the supply chain between our two countries, hence contributing to global food security'. He emphasized that this initiative also reflects Vietnam's commitment to deepening trust and advancing the Comprehensive Strategic Partnership as the two countries celebrate 30 years of diplomatic relations. ADVERTISEMENT During the trip, Vietnamese businesses signed 20 MoUs, worth a total of $3 billion to buy U.S. agricultural commodities. These agreements highlight the strong commitment and goodwill of Vietnam's business community and government to promote balanced trade with the U.S., and to encourage the Trump Administration to reconsider high reciprocal tariffs on Vietnamese goods. The visit was warmly welcomed and highly valued by U.S. partners. Iowa Governor Kim Reynolds immediately shared her appreciation on X following her meeting with Minister Do Duc Duy: 'Excited to welcome Vietnam's Minister of Agriculture and Environment, Do Duc Duy, and the whole Vietnamese delegation to Iowa and celebrate the signing of MOUs and purchase agreements for Iowa commodities. The agreements today will help our farmers and strengthen the agricultural supply chain between Vietnam and Iowa'. Following the Governor, Mike Naig, Secretary of Iowa Department of Agriculture, put on X: 'Yesterday, I met with Vietnam's ag minister and a major trade delegation working to strengthen ties with U.S. ag producers. Of the $2B in new MOUs signed, $800M is tied to Iowa'. Brian Baldridge, Ohio Secretary of Agriculture, emphasized during his meeting with Minister Duy that Vietnam and the US, especially Vietnam and Ohio, have complementary strengths, particularly in agricultural trade. Ohio sees strong potentials in Vietnam and recognizes the opportunities to expand bilateral trade. He noted that stakeholders from both sides should explore new ways for farmers, agribusinesses, and associations to collaborate and build strong, integrated supply chains. To support this, both governments should work to remove barriers to agricultural trade. Following the signing of MoUs with Vietnamese partners to purchase more than $600 million worth of animal feed from Ohio, Patty Mann, Chair of the Ohio Corn Checkoff, stated: 'These agreements represent a major win for Ohio corn farmers. Vietnam continues to be a growing and reliable export market, and partnerships like this help ensure we can keep delivering high-quality, Ohio-grown products to the world'. This was elaborated further by Wendy Osborn, Director of Market Development, Ohio Corn and Wheat: 'The MOUs signed today represent potential commitments of significant volumes of agricultural commodities and strategic partnerships that will support Vietnam's growing agricultural sector while providing sustainable markets for Ohio's farm families. These agreements build upon the strong foundation established through years of relationship-building. May these agreements serve as a foundation for many years of continued collaboration and mutual prosperity'. During a roundtable with the US-ASEAN Business Council (USABC) in Washington D.C, Ted Osius, President and CEO of USABC, expressed strong support for Vietnam's agricultural development: 'Rapid changes in U.S. tariff policies have created a challenging trade environment. We're encouraged that Vietnam is considering increasing imports of agricultural goods to help reduce its trade deficit with the U.S. USABC and its member companies remain committed to supporting the growth of Vietnam's food and agriculture sector'. ADVERTISEMENT In response to the USABC President, Minister Duy reaffirmed the Vietnam government's strong commitment to continuing institutional reforms, improving administrative efficiency, upgrading infrastructure, and creating the most favorable environment for international businesses, including U.S. enterprises, to expand trade and investment with Vietnam in a long-term and effective manner. Roundtable discussion between Vietnam's Ministry of Agriculture and Environment with USABC in Washington DC. During the meeting with Minister Duy, the Chairs of the Agriculture Committees of both the U.S. Senate and House of Representatives expressed enthusiasm and optimism about the remarkable outcomes of the Vietnamese delegation's visit to Iowa, Ohio, and Washington, D.C. Senator John Boozman was particularly impressed by Vietnam's robust economic growth and the strong potential for long-term cooperation between the two countries. He highlighted Vietnam's role as a dynamic and reliable economic partner in the Asia-Pacific region. The Senator expressed support for efforts to achieve a fair tariff agreement and pledged to fully convey Vietnam's recommendations to relevant US authorities. Representative Glenn Thompson showed special interest in the high-value deals for US agricultural commodities secured during the Minister's visit. He expressed confidence in the prospects for deeper cooperation between the two agricultural sectors and emphasized the need for the US government to promptly address concerns over the high reciprocal tariffs that may be applied to Vietnam exports. He welcomed Vietnam's decision to commercialize biotechnology-based agricultural products imported from the US, calling it a clear signal of Vietnam's determination to modernize its agriculture and integrate more closely with the US supply chains. Businesses and associations from both countries expressed hope that the Vietnamese and US governments would continue to support bilateral trade and strengthen links across their complementary agricultural supply chains. Their shared goal is to bring tangible benefits to millions of farmers, consumers, and businesses in both countries. As such, businesses on both sides are urging the removal of the reciprocal tariffs imposed by the Trump Administration on Vietnam. The 46% tariff has been reported to harm not only Vietnamese exporters but also U.S. businesses and consumers. Since agrifood is a staple commodity, higher price would place a considerable burden on average-income American households. Moreover, such measures could disrupt the supply chains that both governments and the private sector have worked hard to establish in recent years. Businesses wish for a trade agreement between the U.S. and Vietnam soonly concluded, thereby lowering tariffs on agricultural commodities, reinforcing shared supply chains and contributing to the prosperity of both countries under the Comprehensive Strategic Partnership. Hashtag: #MAE The issuer is solely responsible for the content of this announcement.
The Sun
03-06-2025
- Business
- The Sun
Vietnamese Agri Trade Mission to Iowa
OWA, US - Media OutReach Newswire - 3 June 2025 - A delegation of the Ministry of Agriculture and Environment of Vietnam led by Minister Do Duc Duy began a trade mission to the United States, with the first stop being Iowa. Welcoming and working with the delegation, on the side of the Iowa Department of Agriculture were Secretary Mike Naig and Deputy Secretary Grant Menke. 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.
Arabian Post
03-06-2025
- Business
- Arabian Post
Vietnamese Agri Trade Mission to Iowa
Ministers witnessed MoU signing between Vietnamese and Iowa agribusinesses. IOWA, US – Media OutReach Newswire – 3 June 2025 – A delegation of the Ministry of Agriculture and Environment of Vietnam led by Minister Do Duc Duy began a trade mission to the United States, with the first stop being Iowa. Welcoming and working with the delegation, on the side of the Iowa Department of Agriculture were Secretary Mike Naig and Deputy Secretary Grant Menke. 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. ADVERTISEMENT 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 #MAE The issuer is solely responsible for the content of this announcement.
