Vietnam is now the ninth-largest market for U.S. agricultural products, while the United States is the largest market for Vietnamese agricultural products.
Vietnam has extended its Agri-trade markets relationship to U.S. starting with grapefruit imports since the first week of March 2023.
U.S. Department of Agriculture Under Secretary for Trade and Foreign Agricultural Affairs Alexis Taylor and Under Secretary for Marketing and Regulatory Programs Jenny Moffitt visited Vietnam to following markets opening to U.S. grapefruit imports. This trade policy success underscores the strong and growing partnership between the two countries. Vietnam is now the ninth-largest market for U.S. agricultural products, while the United States is the largest market for Vietnamese agricultural products.
Taylor and Moffit met with Vietnam Minister of Agriculture and Rural Development Le Minh Hoan and discussed further collaboration and exchange of technical information to demonstrate the benefits of agricultural biotechnologies and innovative technologies. As partners in international climate change coalitions, including Agriculture Innovation Mission for Climate (AIM for Climate) and the Sustainable Productivity Growth (SPG) Coalition, United States and Vietnam have a great opportunity to promote food systems that foster innovation to sustainably deliver more production on a smaller environmental footprint.
Đỗ Thắng Hải, Vietnam Vice Minister of Industry and Trade (MOIT) has been working towards the most-favored-nation tariff reductions for key U.S. agricultural products. These lower tariffs benefit U.S. exporters, while also helping control costs for Vietnamese importers and consumers. USDA is also supportive of the Vietnam policy goal of 10-percent ethanol blends in gasoline. Vietnam’s gasoline usage is increasing and using ethanol blends will increase its energy security, by combining domestic production with reliable trade flows with the United States.
The USDA delegation visit underscored the importance of the U.S.-Vietnam agricultural relationship, including the two countries collaboration on climate smart agricultural practices and initiatives, and their work strengthening bilateral agricultural trade and promoting U.S. farm and food products to Vietnamese importers.
