Vietnam delegation eyes over $2 billion in US agri-import deals

Overview of the working session between the Ministry of Agriculture and Environment and the Iowa Department of Agriculture. Photo: Ministry of Agriculture and Environment (MAE)

On June 2, the delegation began its official visit to the state of Iowa, widely recognised as the heartland of American agriculture. The mission reflects Vietnam’s strategic objective of strengthening agricultural trade ties with the United States and accessing advanced technologies and sustainable supply chains. The trip comes amid shifting global trade dynamics and Vietnam’s growing demand for high-quality agricultural inputs.

In Iowa, Minister Duy was welcomed by Secretary of Agriculture Mike Naig and Deputy Secretary Grant Menke. The delegation included senior officials from the MAE, technical departments, industry associations, and major Vietnamese agribusinesses.

During the working session, Duy emphasised Vietnam’s commitment to expanding agricultural cooperation at both federal and state levels in the US. “It is a great honour to lead this mission to Iowa, a global agricultural powerhouse. We see this as a key step in creating long-term partnerships that go beyond trade, towards joint innovation and sustainable growth,” he said.

Secretary Mike Naig and Deputy Secretary Grant Menke of the Iowa Department of Agriculture delivered remarks at the meeting. Photo: MAE

The visit quickly translated into concrete outcomes. Vietnamese and Iowa-based enterprises and associations signed five MoUs worth approximately $800 million, to be implemented over the next three years. This marks a significant leap compared to Iowa’s historical average of $44 million in annual agricultural exports to Vietnam.

Among the major deals, Khai Anh Binh Thuan Company agreed to import one million tons of soybean meal from Ag Processing Inc. (AGP), with an estimated value of $380-390 million. The company also reached an agreement with United Grain to purchase an additional 900,000 tonnes of corn and wheat, worth around $250 million.

Meanwhile, Vietnam-Japan Nutrition Technology JSC signed a contract with US-based POET Group to import 100,000 tonnes of dried distillers grains with solubles and 100,000 tonnes of soybean meal, valued at approximately $60-70 million.

The scope of cooperation extended beyond trade transactions into the public-private domain. An MoU was signed between Vietnam’s Department of Livestock Production and Veterinary Services (under the MAE) and the Iowa Pork Producers Association, setting the stage for enhanced cooperation in technical exchange, promotion campaigns, and direct linkages between Vietnamese and Iowan pig farmers. The two sides committed to co-organising workshops, trade facilitation events, and technology sharing sessions to further integrate the two agricultural systems.

Leaders of Vietnam’s Ministry of Agriculture and Environment and the Iowa Department of Agriculture witness the signing of an MoU on agricultural, forestry, and fishery trade cooperation. Photo: MAE

According to Naig, these agreements reflect the growing trust and mutual benefits in Vietnam-US agricultural relations. “Vietnam is a priority partner for Iowa’s agriculture sector. These partnerships demonstrate how collaboration between governments and businesses can yield tangible, long-term value,” he said.

Minister Duy reiterated Vietnam’s interest in sourcing quality raw materials and inputs from reputable US producers, while also opening new channels for investment, processing collaboration, and climate-smart agriculture. “We are actively pursuing green, digital, and sustainable agriculture,” he said. “The experience of Iowa in precision farming and circular agriculture will provide valuable lessons for our domestic sector.”

Beyond the signed MoUs, the delegation's visit also facilitated a broader platform for dialogue and networking. Multiple Vietnamese and US businesses used the opportunity to connect, exchange views, and identify new pathways to expand bilateral trade and enhance supply chain integration in agriculture, forestry, and fisheries.

The working sessions highlighted Vietnam’s increasing emphasis on adopting advanced American agricultural technologies, ranging from seed genetics and post-harvest processing to livestock feed management and carbon-reduction farming models. Vietnamese enterprises are seeking not only to import products, but also to secure know-how that will support the country’s agricultural transition towards resilience and sustainability.

As the Vietnamese delegation continues its US tour, with planned meetings in Washington, DC, and other agricultural hubs, expectations are high for further announcements related to agri-tech cooperation, policy alignment, and market access expansion. The total value of prospective agreements may exceed $2 billion, representing a major milestone in the evolving partnership between Vietnam and the US.