Latest news with #MinistryofAgricultureandEnvironment
NDTV
3 days ago
- Business
- NDTV
Vietnam To Sign Agriculture Deals With US Worth $2 Billion
Hanoi: Vietnam is expected to sign deals with the United States to buy more than $2 billion worth of agricultural products, Hanoi said on Tuesday, as it tries to slash President Donald Trump's threatened 46 per cent tariff. The announcement came as a delegation from the Ministry of Agriculture and Environment led by Minister Do Duc Duy visited the United States. Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico and is anxious to address the imbalance to head off the tariff threat. The deals announced on Tuesday include five memorandums of understanding (MOUs) to buy products worth around $800 million from the state of Iowa over three years, the agriculture ministry said in a statement on its website. This is up from the current average of $44 million of agricultural exports per year from Iowa to Vietnam, the statement said. The new deals include the purchase of soybean meal, corn, wheat, dried soybeans and dried distillers grains (DDGS), it added. Vietnam is due to head into a third round of trade talks with the United States in the coming days. Last month it said "positive progress" has been made following three days of discussions in Washington. The Vietnamese team sought help during its time in the United States from US tech and industry giants, including Lockheed Martin, SpaceX and Google. It also signed an agreement with US company Westinghouse Electric on nuclear power development. Mr Trump's real estate group broke ground last month in Vietnam on a $1.5-billion luxury resort and golf course 40 kilometres (25 miles) southeast of the capital Hanoi. His son, Eric Trump, an executive vice president of The Trump Organization, and his wife Mrs Lara attended the event, as well as local partner the Kinhbac City Development Corporation (KBC). He has also been scouting locations for a potential tower project in Ho Chi Minh City, Vietnam's southern business hub.
The Star
3 days ago
- Business
- The Star
Vietnam to sign agriculture deals with US worth US$2bil; country has the third-biggest trade surplus with the United States
HANOI (AFP): Vietnam is expected to sign deals with the United States to buy more than $2 billion worth of agricultural products, Hanoi said Tuesday, as it tries to slash President Donald Trump's threatened 46 percent tariff. The announcement came as a delegation from the Ministry of Agriculture and Environment led by Minister Do Duc Duy visited the United States. Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico and is anxious to address the imbalance to head off the tariff threat. The deals announced Tuesday include five memorandums of understanding (MOUs) to buy products worth around $800 million from the state of Iowa over three years, the agriculture ministry said in a statement on its website. This is up from the current average of $44 million of agricultural exports per year from Iowa to Vietnam, the statement said. The new deals include the purchase of soybean meal, corn, wheat, dried soybeans and dried distillers grains (DDGS), it added. Vietnam is due to head into a third round of trade talks with the United States in the coming days. Last month it said "positive progress" has been made following three days of discussions in Washington. The Vietnamese team sought help during its time in the United States from US tech and industry giants, including Lockheed Martin, SpaceX and Google. It also signed an agreement with US company Westinghouse Electric on nuclear power development. Trump's real estate group broke ground last month in Vietnam on a $1.5-billion luxury resort and golf course 40 kilometres (25 miles) southeast of the capital Hanoi. His son, Eric Trump, an executive vice president of The Trump Organization, and his wife Lara attended the event, as well as local partner the Kinhbac City Development Corporation (KBC). He has also been scouting locations for a potential tower project in Ho Chi Minh City, Vietnam's southern business hub. - AFP
Hindustan Times
3 days ago
- Business
- Hindustan Times
Vietnam to sign agriculture deals with US worth $2 billion
Vietnam is expected to sign deals with the United States to buy more than $2 billion worth of agricultural products, Hanoi said Tuesday, as it tries to slash President Donald Trump's threatened 46 percent tariff. The announcement came as a delegation from the Ministry of Agriculture and Environment led by Minister Do Duc Duy visited the United States. Vietnam has the third-biggest trade surplus with the United States of any country after China and Mexico and is anxious to address the imbalance to head off the tariff threat. The deals announced Tuesday include five memorandums of understanding to buy products worth around $800 million from the state of Iowa over three years, the agriculture ministry said in a statement on its website. This is up from the current average of $44 million of agricultural exports per year from Iowa to Vietnam, the statement said. The new deals include the purchase of soybean meal, corn, wheat, dried soybeans and dried distillers grains , it added. Vietnam is due to head into a third round of trade talks with the United States in the coming days. Last month it said "positive progress" has been made following three days of discussions in Washington. The Vietnamese team sought help during its time in the United States from US tech and industry giants, including Lockheed Martin, SpaceX and Google. It also signed an agreement with US company Westinghouse Electric on nuclear power development. Trump's real estate group broke ground last month in Vietnam on a $1.5-billion luxury resort and golf course 40 kilometres southeast of the capital Hanoi. His son, Eric Trump, an executive vice president of The Trump Organization, and his wife Lara attended the event, as well as local partner the Kinhbac City Development Corporation . He has also been scouting locations for a potential tower project in Ho Chi Minh City, Vietnam's southern business hub. bur-aph/tc
The Star
10-05-2025
- Business
- The Star
Vietnamese PM orders stockpiling plans for key agricultural products amid global trade volatility
HANOI (Xinhua): Vietnamese Prime Minister Pham Minh Chinh has directed relevant ministries to develop plans for temporary stockpiling of key agricultural products, particularly rice, coffee and pepper, during peak harvest seasons, the Vietnam News Agency reported. The directive aims to safeguard farmers' incomes and stabilize markets amid growing global trade uncertainties, the state-owned media outlet reported. Chinh noted that recent and upcoming changes in tariff policies by several countries could pose risks to overall production and exports, especially in the agricultural, forestry and fishery sectors. According to the Ministry of Agriculture and Environment, Vietnam's export of agricultural, forestry and fishery products reached US$21.15 billion in the first four months of 2025, marking a year-on-year increase of 10.7 per cent. - Xinhua
The Star
09-05-2025
- Business
- The Star
Vietnam plans stockpile of key agricultural products amid global trade volatility
HANOI (Bernama-Xinhua): Vietnamese Prime Minister Pham Minh Chinh on Friday directed relevant ministries to develop plans for temporary stockpiling of key agricultural products, particularly rice, coffee, and pepper, during peak harvest seasons. According to the state-owned Vietnam News Agency, the directive aims to safeguard farmers' incomes and stabilise markets amid growing global trade uncertainties. Chinh noted that recent and upcoming changes in tariff policies by several countries could pose risks to overall production and exports, especially in the agricultural, forestry, and fishery sectors. According to the Ministry of Agriculture and Environment, Vietnam's export of agricultural, forestry, and fishery products reached US$21.15 billion in the first four months of 2025, marking a year-on-year increase of 10.7 per cent. -- Bernama-Xinhua
